Columbia Banking System, Inc. $COLB Holdings Trimmed by Savant Capital LLC

Savant Capital LLC cut its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 71.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,498 shares of the financial services provider’s stock after selling 49,736 shares during the quarter. Savant Capital LLC’s holdings in Columbia Banking System were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Columbia Banking System by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 664,110 shares of the financial services provider’s stock worth $17,094,000 after purchasing an additional 187,551 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Columbia Banking System by 14.1% during the third quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock worth $193,977,000 after buying an additional 929,862 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Columbia Banking System by 66.5% during the third quarter. Linden Thomas Advisory Services LLC now owns 121,972 shares of the financial services provider’s stock worth $3,140,000 after buying an additional 48,702 shares in the last quarter. HoldCo Asset Management LP grew its position in Columbia Banking System by 27.6% in the third quarter. HoldCo Asset Management LP now owns 5,722,786 shares of the financial services provider’s stock worth $147,305,000 after buying an additional 1,239,489 shares during the last quarter. Finally, Channing Capital Management LLC acquired a new position in Columbia Banking System in the third quarter worth approximately $10,965,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $29.49 on Friday. The firm’s 50 day moving average price is $28.99 and its two-hundred day moving average price is $28.84. Columbia Banking System, Inc. has a twelve month low of $21.91 and a twelve month high of $32.70. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 11.75 and a beta of 0.63.

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

Columbia Banking System Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays cut their price objective on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. UBS Group started coverage on Columbia Banking System in a research report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on 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 lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings upgraded Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. One research 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 company’s stock. According to MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and an average price target of $32.13.

Columbia Banking System Company 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.