Sittner & Nelson LLC Trims Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Sittner & Nelson LLC lessened its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,519 shares of the financial services provider’s stock after selling 2,000 shares during the period. Sittner & Nelson LLC’s holdings in Columbia Banking System were worth $980,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on COLB shares. Keefe, Bruyette & Woods lifted their price objective on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Raymond James upped their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Trading Down 4.0 %

Shares of Columbia Banking System stock opened at $30.43 on Friday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $31.74. The company has a market cap of $6.37 billion, a P/E ratio of 13.17 and a beta of 0.62. The company’s fifty day simple moving average is $26.33 and its two-hundred day simple moving average is $22.91.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $765.06 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.79 earnings per share. Analysts predict that Columbia Banking System, Inc. will post 2.62 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.73%. Columbia Banking System’s dividend payout ratio (DPR) is currently 62.34%.

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.