Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors decreased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 12.3% in the second quarter, HoldingsChannel.com reports. The firm owned 530,368 shares of the financial services provider’s stock after selling 74,476 shares during the quarter. Davidson Investment Advisors’ holdings in Columbia Banking System were worth $10,756,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COLB. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Columbia Banking System during the 1st quarter worth about $484,000. PNC Financial Services Group Inc. increased its holdings in shares of Columbia Banking System by 26.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 1,120 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Columbia Banking System by 2.7% in the first quarter. Bank of Montreal Can now owns 23,253 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 620 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Columbia Banking System by 56.3% in the 1st quarter. MetLife Investment Management LLC now owns 42,283 shares of the financial services provider’s stock worth $1,364,000 after acquiring an additional 15,237 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Columbia Banking System by 3.4% in the 1st quarter. Rhumbline Advisers now owns 232,909 shares of the financial services provider’s stock worth $7,516,000 after acquiring an additional 7,638 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Columbia Banking System Stock Performance

NASDAQ COLB traded down $0.19 during trading hours on Monday, hitting $22.59. The company had a trading volume of 734,041 shares, compared to its average volume of 2,070,393. Columbia Banking System, Inc. has a 1-year low of $17.54 and a 1-year high of $34.34. The company has a market cap of $4.71 billion, a PE ratio of 10.95 and a beta of 0.67. The business has a 50 day moving average of $20.18 and a 200-day moving average of $20.77.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $739.99 million during the quarter, compared to the consensus estimate of $522.90 million. Columbia Banking System had a return on equity of 11.55% and a net margin of 14.80%. During the same period in the prior year, the company earned $0.86 earnings per share. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.96 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 24th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 6.37%. Columbia Banking System’s payout ratio is currently 69.23%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COLB. Royal Bank of Canada cut their price objective on shares of Columbia Banking System from $26.00 to $22.00 in a research report on Tuesday, October 10th. Wedbush increased their target price on Columbia Banking System from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Wells Fargo & Company dropped their target price on Columbia Banking System from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, October 4th. Raymond James dropped their target price on Columbia Banking System from $27.00 to $25.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 19th. Finally, StockNews.com assumed coverage on shares of Columbia Banking System in a report on Thursday, October 5th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.11.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides commercial and retail banking services. The company offers deposit products, including interest-bearing checking, savings, money market, and certificate of deposit accounts. It also provides home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; and agricultural loans, asset-based loans, builder and other commercial real estate loans, and loans guaranteed by the SBA, as well as offer a suite of business edge loans designed for small businesses to expand, purchase equipment, or in need of working capital.