Corient Private Wealth LLC Decreases Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Corient Private Wealth LLC decreased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 47.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,092 shares of the financial services provider’s stock after selling 22,188 shares during the period. Corient Private Wealth LLC’s holdings in Columbia Banking System were worth $651,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in Columbia Banking System during the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC grew its holdings in shares of Columbia Banking System by 62.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock valued at $55,000 after buying an additional 780 shares during the last quarter. Principal Securities Inc. increased its position in shares of Columbia Banking System by 171.3% in the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,343 shares during the period. Parkside Financial Bank & Trust raised its stake in Columbia Banking System by 36.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 801 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Columbia Banking System by 22,244.4% during the 4th quarter. Larson Financial Group LLC now owns 6,033 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 6,006 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Insider Buying and Selling

In other news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the sale, the vice president now directly owns 104,869 shares of the company’s stock, valued at $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. 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.

Columbia Banking System Trading Down 2.3 %

Shares of COLB stock opened at $24.73 on Friday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $32.85. The business’s 50 day moving average is $26.55 and its two-hundred day moving average is $27.47. The company has a market capitalization of $5.18 billion, a P/E ratio of 9.74 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) 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%. On average, research 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 announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.36 per share. The ex-dividend date 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 is currently 56.69%.

Wall Street Analyst Weigh In

COLB has been the topic of a number of research reports. Stephens cut their price objective on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company raised shares of 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 report on Monday, January 6th. UBS Group began coverage on shares of Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective on the stock. Barclays raised their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, 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. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.