Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,530,499 shares of the financial services provider’s stock after selling 24,745 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.73% of Columbia Banking System worth $39,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in COLB. First Hawaiian Bank grew its holdings in Columbia Banking System by 81.4% during the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 23,597 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock worth $46,346,000 after purchasing an additional 36,867 shares in the last quarter. Pathstone Holdings LLC increased its holdings in Columbia Banking System by 45.7% in the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after buying an additional 37,941 shares during the last quarter. Leuthold Group LLC acquired a new stake in Columbia Banking System during the third quarter valued at approximately $3,181,000. Finally, Natixis Advisors LLC lifted its holdings in Columbia Banking System by 37.8% during the 2nd quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider’s stock worth $1,947,000 after buying an additional 26,877 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wedbush boosted their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. 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 report on Friday, October 25th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Raymond James raised their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.12.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $31.62 on Friday. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The firm has a market capitalization of $6.63 billion, a PE ratio of 13.69 and a beta of 0.62. The stock has a fifty day moving average of $28.20 and a two-hundred day moving average of $24.06.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.79 earnings per share. Equities research analysts predict that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

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

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.