Victory Capital Management Inc. Sells 4,034 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Victory Capital Management Inc. decreased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,288 shares of the financial services provider’s stock after selling 4,034 shares during the period. Victory Capital Management Inc.’s holdings in Columbia Banking System were worth $3,546,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COLB. SBI Securities Co. Ltd. bought a new position in Columbia Banking System during the 4th quarter worth $32,000. Smartleaf Asset Management LLC increased its position in Columbia Banking System by 62.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after buying an additional 780 shares during the period. Principal Securities Inc. increased its position in Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock worth $57,000 after buying an additional 1,343 shares during the period. Parkside Financial Bank & Trust increased its position in Columbia Banking System by 36.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after buying an additional 801 shares during the period. Finally, Blue Trust Inc. increased its position in Columbia Banking System by 14.9% during the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after buying an additional 875 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Up 3.5 %

NASDAQ:COLB opened at $24.77 on Monday. The stock’s 50-day simple moving average is $27.03 and its 200 day simple moving average is $27.47. The firm has a market capitalization of $5.19 billion, a PE ratio of 9.75 and a beta of 0.62. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stephens decreased their price target on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. UBS Group assumed coverage on Columbia Banking System in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Finally, Keefe, Bruyette & Woods decreased their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.25.

Insider Buying and Selling

In related news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the transaction, the vice president now directly owns 104,869 shares of the company’s stock, valued at $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by insiders.

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.