Morgan Stanley Sells 84,238 Shares of Columbia Banking System, Inc. (COLB)

Morgan Stanley cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 46.1% during the first quarter, Holdings Channel reports. The institutional investor owned 98,568 shares of the financial services provider’s stock after selling 84,238 shares during the period. Morgan Stanley’s holdings in Columbia Banking System were worth $3,842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COLB. Raymond James Financial Services Advisors Inc. increased its position in Columbia Banking System by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after buying an additional 46 shares in the last quarter. 1st Global Advisors Inc. increased its position in Columbia Banking System by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 6,179 shares of the financial services provider’s stock valued at $241,000 after buying an additional 85 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Columbia Banking System by 0.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock valued at $517,000 after buying an additional 90 shares in the last quarter. Suntrust Banks Inc. increased its position in Columbia Banking System by 2.4% in the first quarter. Suntrust Banks Inc. now owns 7,697 shares of the financial services provider’s stock valued at $300,000 after buying an additional 177 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Columbia Banking System by 0.3% in the first quarter. Stifel Financial Corp now owns 78,162 shares of the financial services provider’s stock valued at $3,047,000 after buying an additional 264 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Columbia Banking System, Inc. (NASDAQ COLB) traded up 0.21% during mid-day trading on Tuesday, hitting $38.30. The company’s stock had a trading volume of 17,640 shares. Columbia Banking System, Inc. has a 12-month low of $30.90 and a 12-month high of $45.68. The company has a market cap of $2.23 billion, a PE ratio of 19.43 and a beta of 1.22. The stock has a 50-day moving average of $39.31 and a 200-day moving average of $39.22.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.01. Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. The firm had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $112.27 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. On average, equities research analysts forecast that Columbia Banking System, Inc. will post $2.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be issued a $0.22 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. Columbia Banking System’s dividend payout ratio (DPR) is 44.67%.

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Several research firms recently commented on COLB. BidaskClub downgraded Columbia Banking System from a “sell” rating to a “strong sell” rating in a research note on Saturday. Piper Jaffray Companies reduced their price objective on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $42.00 price objective on shares of Columbia Banking System in a research note on Friday, July 28th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price objective on shares of Columbia Banking System in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Columbia Banking System has an average rating of “Hold” and a consensus price target of $44.40.

In other news, CFO Clint Stein sold 8,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $40.09, for a total value of $320,720.00. Following the completion of the transaction, the chief financial officer now directly owns 22,877 shares of the company’s stock, valued at $917,138.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.23% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB).

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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