Columbia Banking System, Inc. $COLB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,861,253 shares of the financial services provider’s stock after selling 178,110 shares during the quarter. Bank of New York Mellon Corp’s holdings in Columbia Banking System were worth $66,896,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Columbia Banking System by 221.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider’s stock valued at $148,342,000 after acquiring an additional 4,096,733 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Banking System by 18.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider’s stock worth $162,791,000 after purchasing an additional 1,012,796 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Columbia Banking System by 528.4% during the first quarter. MetLife Investment Management LLC now owns 742,107 shares of the financial services provider’s stock worth $18,508,000 after purchasing an additional 624,011 shares in the last quarter. LSV Asset Management boosted its position in shares of Columbia Banking System by 81.5% in the first quarter. LSV Asset Management now owns 1,331,143 shares of the financial services provider’s stock worth $33,199,000 after buying an additional 597,710 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Columbia Banking System in the first quarter valued at about $12,588,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on COLB. JPMorgan Chase & Co. boosted their price target on Columbia Banking System from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $31.00 in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Columbia Banking System in a research report on Tuesday, October 14th. Cowen began coverage on shares of Columbia Banking System in a report on Wednesday, September 24th. They set a “hold” rating for the company. Finally, TD Cowen started coverage on shares of Columbia Banking System in a research note on Thursday, September 25th. They set a “hold” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.38.

Columbia Banking System Trading Up 1.9%

COLB stock opened at $26.93 on Monday. Columbia Banking System, Inc. has a twelve month low of $19.61 and a twelve month high of $32.85. The company has a market capitalization of $5.66 billion, a P/E ratio of 10.69 and a beta of 0.67. The firm has a 50 day simple moving average of $26.07 and a 200-day simple moving average of $24.88.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. The firm had revenue of $348.47 million for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. On average, research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is 64.86%.

About Columbia Banking System

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.