Davidson Investment Advisors Sells 453,536 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Davidson Investment Advisors lowered its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 98.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,800 shares of the financial services provider’s stock after selling 453,536 shares during the period. Davidson Investment Advisors’ holdings in Columbia Banking System were worth $238,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. lifted its position in shares of Columbia Banking System by 171.3% in the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,343 shares during the period. Farther Finance Advisors LLC lifted its holdings in Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after buying an additional 4,553 shares during the period. Signaturefd LLC lifted its holdings in Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after buying an additional 709 shares during the period. Blue Trust Inc. boosted its position in Columbia Banking System by 14.9% during the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 875 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Columbia Banking System during the 3rd quarter worth approximately $208,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.2 %

COLB stock opened at $27.41 on Tuesday. The stock’s 50 day simple moving average is $27.82 and its 200 day simple moving average is $27.21. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $32.85. The stock has a market capitalization of $5.74 billion, a PE ratio of 10.79 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, research analysts predict that Columbia Banking System, Inc. will post 2.72 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s payout ratio is presently 56.69%.

Analyst Ratings Changes

COLB has been the topic of several research reports. UBS Group began coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target on the stock. Truist Financial boosted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Stephens decreased their target price on shares of 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. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $30.38.

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.