Columbia Banking System, Inc. (NASDAQ:COLB) Position Reduced by Mengis Capital Management Inc.

Mengis Capital Management Inc. decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,410 shares of the financial services provider’s stock after selling 512 shares during the period. Mengis Capital Management Inc.’s holdings in Columbia Banking System were worth $1,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in Columbia Banking System by 171.3% during the fourth 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 in the last quarter. Farther Finance Advisors LLC raised its holdings in Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,553 shares in the last quarter. Signaturefd LLC raised its holdings in Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares in the last quarter. Blue Trust Inc. raised its holdings in Columbia Banking System by 14.9% during the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 875 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Columbia Banking System during the third quarter worth approximately $208,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $26.33 on Tuesday. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 10.37 and a beta of 0.66. The firm’s 50 day moving average price is $27.56 and its two-hundred day moving average price is $27.34.

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

Columbia Banking System Dividend Announcement

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 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Friday, February 28th. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods dropped 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 dropped their price target on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. UBS Group initiated coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $33.00 to $35.00 in a report on Monday, January 6th. Finally, Barclays upped their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. 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, the stock currently has an average rating of “Hold” and a consensus price target 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.