UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Columbia Banking System, Inc. $COLB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 842,527 shares of the financial services provider’s stock after selling 33,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Columbia Banking System were worth $27,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COLB. BlackRock Inc. acquired a new stake in Columbia Banking System in the second quarter valued at approximately $880,443,000. Wellington Management Group LLP raised its stake in shares of Columbia Banking System by 135.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock worth $354,754,000 after buying an additional 7,921,303 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Columbia Banking System by 140.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after buying an additional 5,063,212 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Columbia Banking System during the 2nd quarter valued at approximately $120,867,000. Finally, Norges Bank acquired a new stake in Columbia Banking System in the 4th quarter valued at $103,012,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of COLB stock opened at $30.45 on Friday. Columbia Banking System, Inc. has a 12 month low of $23.83 and a 12 month high of $33.67. The company has a market capitalization of $8.61 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.62. The firm’s 50-day moving average is $31.58 and its two-hundred day moving average is $29.98.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $677.00 million during the quarter, compared to analyst estimates of $687.40 million. During the same period in the prior year, the business posted $0.76 earnings per share. Sell-side analysts forecast that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a yield of 4.9%. Columbia Banking System’s dividend payout ratio is presently 58.96%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COLB shares. Barclays decreased their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Royal Bank Of Canada raised their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Zacks Research upgraded Columbia Banking System from a “strong sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods increased their target price on Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Fundamental Research set a $35.00 target price on Columbia Banking System in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.62.

Insiders Place Their Bets

In other Columbia Banking System news, CMO David Moore Devine sold 3,872 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the transaction, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. This trade represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.