Rockefeller Capital Management L.P. Sells 20,959 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Rockefeller Capital Management L.P. lowered its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,099 shares of the financial services provider’s stock after selling 20,959 shares during the quarter. Rockefeller Capital Management L.P. owned 0.09% of Columbia Banking System worth $5,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tidal Investments LLC raised its position in Columbia Banking System by 1.1% in the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 464 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock worth $1,641,000 after acquiring an additional 469 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Columbia Banking System by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock valued at $1,025,000 after purchasing an additional 544 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Columbia Banking System by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock valued at $2,476,000 after purchasing an additional 580 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Columbia Banking System by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock worth $844,000 after purchasing an additional 612 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Trading Up 1.0 %

Shares of COLB stock opened at $22.18 on Friday. The stock’s 50-day moving average price is $24.63 and its 200-day moving average price is $27.11. Columbia Banking System, Inc. has a 12-month low of $17.46 and a 12-month high of $32.85. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 8.73 and a beta of 0.53.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 6.49%. Columbia Banking System’s payout ratio is presently 56.69%.

Insider Buying and Selling

In other news, VP Torran B. Nixon sold 4,481 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of research reports. Barclays decreased their target price 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. Keefe, Bruyette & Woods lowered their target price 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. Stephens cut their price target on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Citigroup dropped their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.00.

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.