Wellington Management Group LLP Has $110.38 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Wellington Management Group LLP trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,086,679 shares of the financial services provider's stock after selling 2,572,576 shares during the period. Wellington Management Group LLP owned 1.95% of Columbia Banking System worth $110,381,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Columbia Banking System during the fourth quarter valued at $210,000. CIBC Private Wealth Group LLC boosted its position in Columbia Banking System by 50.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 7,455 shares of the financial services provider's stock worth $202,000 after acquiring an additional 2,515 shares during the period. Pictet Asset Management Holding SA grew its stake in Columbia Banking System by 9.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 29,220 shares of the financial services provider's stock valued at $789,000 after acquiring an additional 2,417 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $177,000. Finally, Norges Bank acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $65,249,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by corporate insiders.

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Columbia Banking System Trading Up 3.8 %

Columbia Banking System stock traded up $0.79 during trading hours on Tuesday, reaching $21.77. 351,684 shares of the company were exchanged, compared to its average volume of 1,510,619. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85. The stock has a 50-day moving average of $25.91 and a 200 day moving average of $27.45. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 8.58 and a beta of 0.53.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 56.69%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday, January 24th. Citigroup cut their price objective on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Stephens lowered their target price on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised Columbia Banking System from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $31.25.

About Columbia Banking System

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.