Commonwealth Equity Services LLC Sells 1,249 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Commonwealth Equity Services LLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,433 shares of the financial services provider’s stock after selling 1,249 shares during the period. Commonwealth Equity Services LLC’s holdings in Columbia Banking System were worth $1,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. Charles Schwab Investment Management Inc. raised its holdings in shares of Columbia Banking System by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,315,896 shares of the financial services provider’s stock valued at $197,602,000 after purchasing an additional 206,643 shares during the period. Wellington Management Group LLP increased its holdings in shares of Columbia Banking System by 31.9% in the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after purchasing an additional 1,611,563 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of 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 purchasing an additional 562,467 shares during the period. Fisher Asset Management LLC raised its holdings in Columbia Banking System by 10.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,787,006 shares of the financial services provider’s stock valued at $48,267,000 after acquiring an additional 172,066 shares during the period. Finally, Systematic Financial Management LP lifted its position in Columbia Banking System by 29.5% during the third quarter. Systematic Financial Management LP now owns 1,164,810 shares of the financial services provider’s stock worth $30,413,000 after acquiring an additional 265,681 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $24.73 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The firm’s fifty day moving average price is $26.55 and its two-hundred day moving average price is $27.47. The stock has a market cap of $5.18 billion, a PE ratio of 9.74 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping 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, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.82%. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Insider Activity

In related news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares of the company’s stock, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group started coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Stephens dropped their price objective on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Citigroup reduced their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $31.25.

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.