Columbia Banking System, Inc. (NASDAQ:COLB) Stock Holdings Decreased by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 35.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,429,054 shares of the financial services provider's stock after selling 796,710 shares during the period. Pzena Investment Management LLC owned approximately 0.68% of Columbia Banking System worth $38,599,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Columbia Banking System by 31.9% during the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider's stock worth $173,873,000 after purchasing an additional 1,611,563 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new position in Columbia Banking System during the third quarter worth about $26,593,000. Holocene Advisors LP raised its holdings in Columbia Banking System by 1,001.8% during the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider's stock worth $25,126,000 after purchasing an additional 874,986 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Columbia Banking System in the fourth quarter valued at about $22,476,000. Finally, Janus Henderson Group PLC increased its holdings in Columbia Banking System by 33.1% in the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider's stock valued at $59,099,000 after buying an additional 562,467 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

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Insider Activity

In other news, VP Torran B. Nixon sold 4,481 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the transaction, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COLB. Citigroup dropped their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a research note on Friday, January 24th. Stephens dropped their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Finally, Barclays raised their price objective on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and a consensus target price of $31.25.

Columbia Banking System Trading Up 3.5 %

Shares of COLB traded up $0.83 during mid-day trading on Friday, reaching $24.77. The company had a trading volume of 1,475,001 shares, compared to its average volume of 1,860,144. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 9.75 and a beta of 0.62. The firm has a fifty day simple moving average of $27.03 and a 200-day simple moving average of $27.44. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, equities analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Friday, February 28th. Columbia Banking System's dividend payout ratio is presently 56.69%.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.