Corient Private Wealth LLC Reduces Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Corient Private Wealth LLC decreased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 47.9% in the fourth quarter, Holdings Channel reports. The fund owned 24,092 shares of the financial services provider’s stock after selling 22,188 shares during the period. Corient Private Wealth LLC’s holdings in Columbia Banking System were worth $651,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in shares of Columbia Banking System by 3.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 122,274 shares of the financial services provider’s stock valued at $3,303,000 after purchasing an additional 4,408 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after buying an additional 612 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Columbia Banking System in the 3rd quarter worth $288,000. Nordea Investment Management AB raised its holdings in shares of Columbia Banking System by 82.0% during the 4th quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock worth $10,592,000 after acquiring an additional 176,334 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Columbia Banking System by 15.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider’s stock valued at $18,712,000 after acquiring an additional 97,498 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COLB has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Barclays lifted their price target on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, Stephens dropped their price target on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.25.

Insider Buying and Selling

In related news, VP Torran B. Nixon sold 4,481 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Columbia Banking System Stock Down 2.3 %

Columbia Banking System stock opened at $24.73 on Friday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The firm has a market cap of $5.18 billion, a PE ratio of 9.74 and a beta of 0.62. The company’s 50 day moving average is $26.55 and its two-hundred day moving average is $27.47.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Friday, February 28th. Columbia Banking System’s dividend payout ratio is presently 56.69%.

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.