Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 260,457 shares of the financial services provider’s stock after selling 37,562 shares during the period. Peregrine Capital Management LLC’s holdings in Columbia Banking System were worth $7,035,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COLB. Principal Securities Inc. lifted its stake in Columbia Banking System by 171.3% in the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,553 shares during the last quarter. Signaturefd LLC boosted its stake in Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after buying an additional 709 shares during the last quarter. Blue Trust Inc. grew its holdings in Columbia Banking System by 14.9% in the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after buying an additional 875 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Columbia Banking System in the 3rd quarter worth $208,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COLB shares. Royal Bank of Canada boosted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, January 24th. Wedbush upped their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Citigroup cut their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, 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 note on Tuesday, January 7th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Stock Up 1.5 %

Shares of Columbia Banking System stock opened at $27.83 on Wednesday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The company has a market capitalization of $5.83 billion, a P/E ratio of 10.96 and a beta of 0.66. The company has a 50 day moving average of $27.78 and a 200 day moving average of $27.24.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, research analysts anticipate that Columbia Banking System, Inc. will post 2.72 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 5.17%. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Columbia Banking System Profile

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.