Columbia Banking System, Inc. $COLB Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 95,552 shares of the financial services provider’s stock after selling 26,239 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Columbia Banking System were worth $2,671,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the period. Horizon Investments LLC lifted its holdings in Columbia Banking System by 168.8% in the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 773 shares during the period. Torren Management LLC acquired a new stake in Columbia Banking System in the fourth quarter worth about $49,000. Ameriflex Group Inc. acquired a new stake in Columbia Banking System in the third quarter worth about $63,000. Finally, Triumph Capital Management acquired a new stake in Columbia Banking System in the third quarter worth about $67,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $29.73 on Monday. The company’s 50-day moving average price is $28.46 and its two-hundred day moving average price is $28.67. Columbia Banking System, Inc. has a 52 week low of $21.91 and a 52 week high of $32.70. The stock has a market cap of $8.61 billion, a PE ratio of 11.84 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $677.34 million. During the same period in the previous year, the business earned $0.67 earnings per share. Columbia Banking System’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, equities analysts predict that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $0.37 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 5.0%. Columbia Banking System’s payout ratio is 58.96%.

Analysts Set New Price Targets

COLB has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. reduced their price objective on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Wall Street Zen downgraded shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Wells Fargo & Company upped their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Finally, Barclays dropped their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.13.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 2,240 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $28.85, for a total transaction of $64,624.00. Following the sale, the vice president owned 98,229 shares in the company, valued at approximately $2,833,906.65. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 5,629 shares of company stock worth $158,044. 0.57% of the stock is currently owned by insiders.

About Columbia Banking System

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.