Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 141,713 shares of the financial services provider’s stock after selling 5,563 shares during the period. Cubist Systematic Strategies LLC owned about 0.07% of Columbia Banking System worth $2,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after buying an additional 2,833,744 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in Columbia Banking System by 21.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after acquiring an additional 788,383 shares during the period. Wellington Management Group LLP grew its position in Columbia Banking System by 16.2% in the 4th quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock valued at $122,158,000 after acquiring an additional 637,212 shares in the last quarter. Vanguard Group Inc. increased its stake in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the period. Finally, Pzena Investment Management LLC increased its stake in Columbia Banking System by 29.8% during the first quarter. Pzena Investment Management LLC now owns 2,456,438 shares of the financial services provider’s stock worth $47,532,000 after purchasing an additional 563,674 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Barclays boosted their price target on shares of Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Raymond James increased their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Wedbush upgraded Columbia Banking System from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $31.00 in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.81.

Columbia Banking System Trading Up 3.7 %

COLB stock opened at $26.90 on Friday. The stock has a market cap of $5.64 billion, a P/E ratio of 11.90 and a beta of 0.64. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.11. The company’s 50 day moving average is $24.67 and its two-hundred day moving average is $21.61.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. During the same period last year, the business earned $0.81 EPS. Columbia Banking System’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is currently 63.72%.

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.