Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 31.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,058 shares of the financial services provider's stock after selling 99,420 shares during the period. Rockefeller Capital Management L.P. owned 0.10% of Columbia Banking System worth $5,641,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Columbia Banking System by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider's stock worth $185,623,000 after acquiring an additional 178,327 shares during the period. American Century Companies Inc. grew its holdings in shares of Columbia Banking System by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider's stock worth $123,153,000 after purchasing an additional 386,751 shares during the period. Bank of New York Mellon Corp increased its position in shares of Columbia Banking System by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider's stock worth $93,851,000 after purchasing an additional 23,963 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider's stock valued at $63,295,000 after buying an additional 2,833,744 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider's stock valued at $46,346,000 after buying an additional 36,867 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, October 28th. Barclays boosted their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday. Royal Bank of Canada raised their price target on Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Raymond James increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.19.

Columbia Banking System Stock Performance

Shares of COLB traded up $0.21 during midday trading on Thursday, hitting $30.43. The company had a trading volume of 529,257 shares, compared to its average volume of 2,205,953. The company's 50-day simple moving average is $28.69 and its 200-day simple moving average is $24.42. The firm has a market capitalization of $6.38 billion, a P/E ratio of 13.08 and a beta of 0.64. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter last year, the business posted $0.79 EPS. Equities analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System's payout ratio is presently 62.34%.

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.