Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 13.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 198,123 shares of the financial services provider’s stock after selling 31,738 shares during the period. D.A. Davidson & CO.’s holdings in Columbia Banking System were worth $5,173,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COLB. Picton Mahoney Asset Management acquired a new stake in Columbia Banking System during the second quarter worth approximately $33,000. Abich Financial Wealth Management LLC raised its stake in Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares in the last quarter. GAMMA Investing LLC lifted its position in Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,115 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $31.62 on Thursday. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 13.69 and a beta of 0.62. The business’s 50 day simple moving average is $28.07 and its 200-day simple moving average is $24.00. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last announced its 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. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COLB shares. Wedbush lifted their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Raymond James upped their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Barclays increased their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.12.

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.