Columbia Banking System, Inc. (NASDAQ:COLB) Holdings Decreased by Stifel Financial Corp

Stifel Financial Corp reduced its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,914 shares of the financial services provider's stock after selling 32,328 shares during the period. Stifel Financial Corp owned about 0.06% of Columbia Banking System worth $3,209,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in shares of Columbia Banking System during the second quarter worth $33,000. Allspring Global Investments Holdings LLC lifted its holdings in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock worth $52,000 after acquiring an additional 1,380 shares during the last quarter. GAMMA Investing LLC boosted its stake in Columbia Banking System by 54.9% in the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider's stock valued at $95,000 after acquiring an additional 1,290 shares during the period. Signaturefd LLC grew its holdings in shares of Columbia Banking System by 44.1% during the second quarter. Signaturefd LLC now owns 5,058 shares of the financial services provider's stock valued at $101,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Columbia Banking System by 8,253.4% during the second quarter. Blue Trust Inc. now owns 6,098 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 6,025 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Trading Down 6.4 %

COLB stock traded down $1.83 during trading hours on Wednesday, hitting $26.80. 2,019,065 shares of the stock traded hands, compared to its average volume of 2,179,539. The stock has a 50-day simple moving average of $29.43 and a 200 day simple moving average of $25.14. The company has a market cap of $5.62 billion, a P/E ratio of 11.60 and a beta of 0.64. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 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 the consensus estimate 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 period in the prior year, the business posted $0.79 earnings per share. Analysts forecast that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.37%. Columbia Banking System's dividend payout ratio is currently 62.34%.

Analyst Upgrades and Downgrades

COLB has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Wedbush boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, October 25th. StockNews.com raised shares of Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Royal Bank of Canada boosted their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Columbia Banking System from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.00.

Columbia Banking System 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.