Columbia Banking System, Inc. (NASDAQ:COLB) Holdings Lowered by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,221 shares of the financial services provider’s stock after selling 2,200 shares during the period. Handelsbanken Fonder AB’s holdings in Columbia Banking System were worth $1,492,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Principal Securities Inc. grew its holdings in Columbia Banking System by 171.3% during the fourth quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,343 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 4,553 shares during the period. Blue Trust Inc. boosted its position in Columbia Banking System by 14.9% in the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after buying an additional 875 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Columbia Banking System during the 3rd quarter worth approximately $208,000. Finally, Wedmont Private Capital acquired a new position in shares of Columbia Banking System during the fourth quarter worth about $209,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $26.53 on Thursday. The stock’s fifty day moving average is $27.51 and its 200 day moving average is $27.36. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The stock has a market cap of $5.56 billion, a P/E ratio of 10.44 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) 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%. Analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.43%. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Analysts Set New Price Targets

A number of research firms have recently commented on COLB. JPMorgan Chase & Co. reduced their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Citigroup decreased their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. UBS Group initiated 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 for the company. 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 research report on Friday, January 24th. Finally, Barclays raised their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.38.

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.