Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 20.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 122,914 shares of the financial services provider’s stock after selling 32,328 shares during the period. Stifel Financial Corp’s holdings in Columbia Banking System were worth $3,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COLB. Systematic Financial Management LP lifted its position in shares of Columbia Banking System by 29.5% during the third quarter. Systematic Financial Management LP now owns 1,164,810 shares of the financial services provider’s stock worth $30,413,000 after purchasing an additional 265,681 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Columbia Banking System in the 3rd quarter worth $924,000. Point72 Asset Management L.P. purchased a new position in Columbia Banking System in the 3rd quarter valued at about $11,664,000. Janus Henderson Group PLC grew its stake in shares of Columbia Banking System by 33.1% during the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock valued at $59,099,000 after acquiring an additional 562,467 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Columbia Banking System by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 350,140 shares of the financial services provider’s stock worth $9,142,000 after acquiring an additional 6,930 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Down 3.7 %

COLB opened at $28.63 on Wednesday. The company’s 50-day moving average price is $29.42 and its 200 day moving average price is $25.13. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 12.39 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The business had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. During the same period in the prior year, the firm earned $0.79 EPS. Research analysts anticipate that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.03%. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COLB. Keefe, Bruyette & Woods increased their price target on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Raymond James upped their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Barclays upped their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.00.

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.