Envestnet Asset Management Inc. Has $4.38 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Envestnet Asset Management Inc. decreased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,164 shares of the financial services provider’s stock after selling 9,333 shares during the period. Envestnet Asset Management Inc.’s holdings in Columbia Banking System were worth $4,380,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Columbia Banking System during the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. acquired a new position in Columbia Banking System during the 4th quarter worth $42,000. Smartleaf Asset Management LLC boosted its position in Columbia Banking System by 62.0% in the 4th 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 stake 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 buying an additional 1,343 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Columbia Banking System by 36.8% during the fourth 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. Institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COLB shares. Keefe, Bruyette & Woods decreased their price target on 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 reduced their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Barclays dropped their price target on shares of Columbia Banking System from $33.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced 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 note on Tuesday, January 7th. Finally, Stephens dropped their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Columbia Banking System has a consensus rating of “Hold” and an average price target of $30.00.

Columbia Banking System Stock Up 3.3 %

Shares of COLB stock opened at $23.52 on Thursday. Columbia Banking System, Inc. has a 12-month low of $18.11 and a 12-month high of $32.85. The firm has a fifty day moving average of $24.24 and a 200-day moving average of $27.04. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 9.26 and a beta of 0.53.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The firm had revenue of $481.92 million during the quarter, compared to analysts’ expectations of $482.86 million. Research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 6.12%. Columbia Banking System’s payout ratio is 56.69%.

Insiders Place Their Bets

In other news, VP Torran B. Nixon sold 4,481 shares of the 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 sale, the vice president now owns 104,869 shares of the company’s stock, valued at $2,725,545.31. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

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.