Gilman Hill Asset Management LLC Reduces Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Gilman Hill Asset Management LLC cut its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 274,350 shares of the financial services provider’s stock after selling 12,505 shares during the quarter. Columbia Banking System comprises about 1.3% of Gilman Hill Asset Management LLC’s holdings, making the stock its 20th largest position. Gilman Hill Asset Management LLC owned 0.13% of Columbia Banking System worth $7,410,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after purchasing an additional 2,833,744 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Columbia Banking System by 90.8% in the second quarter. Renaissance Technologies LLC now owns 573,596 shares of the financial services provider’s stock worth $11,409,000 after purchasing an additional 273,018 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of Columbia Banking System by 41.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,969 shares of the financial services provider’s stock worth $423,000 after buying an additional 6,786 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Columbia Banking System by 164.6% during the second quarter. Hsbc Holdings PLC now owns 89,301 shares of the financial services provider’s stock valued at $1,763,000 after buying an additional 55,552 shares during the period. Finally, Sei Investments Co. grew its position in Columbia Banking System by 3.9% during the second quarter. Sei Investments Co. now owns 992,572 shares of the financial services provider’s stock worth $19,742,000 after buying an additional 36,995 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $28.58 on Monday. The company’s 50 day moving average price is $29.05 and its 200-day moving average price is $26.48. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 12.37 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter last year, the firm earned $0.79 EPS. As a group, equities research analysts forecast that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.04%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 62.34%.

Wall Street Analyst Weigh In

COLB has been the subject of a number of research analyst reports. Raymond James lifted their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. 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. Wedbush lifted their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.31.

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.