Bank of New York Mellon Corp Sells 206,167 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Bank of New York Mellon Corp lowered its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,709,139 shares of the financial services provider’s stock after selling 206,167 shares during the period. Bank of New York Mellon Corp’s holdings in Columbia Banking System were worth $100,184,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in Columbia Banking System by 7.6% in the 4th quarter. New York State Common Retirement Fund now owns 647,094 shares of the financial services provider’s stock valued at $17,478,000 after buying an additional 45,624 shares during the period. Angel Oak Capital Advisors LLC acquired a new stake in shares of Columbia Banking System during the 4th quarter worth approximately $837,000. Kestra Investment Management LLC increased its stake in Columbia Banking System by 17.0% in the fourth quarter. Kestra Investment Management LLC now owns 33,633 shares of the financial services provider’s stock valued at $908,000 after acquiring an additional 4,885 shares during the last quarter. Sanctuary Advisors LLC raised its position in Columbia Banking System by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 11,917 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 902 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake 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 during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Up 0.2 %

Shares of Columbia Banking System stock opened at $26.73 on Friday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 10.52 and a beta of 0.66. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The company’s fifty day moving average is $27.51 and its 200 day moving average is $27.40.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 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%. As a group, equities analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 5.39%. Columbia Banking System’s payout ratio is 56.69%.

Wall Street Analyst Weigh In

COLB has been the topic of several recent analyst reports. UBS Group initiated coverage on Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays increased their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Citigroup decreased their price target on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.38.

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.