Columbia Banking System, Inc. (COLB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,636,219 shares of the financial services provider’s stock after selling 58,926 shares during the period. Victory Capital Management Inc. owned about 4.52% of Columbia Banking System worth $111,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Flinton Capital Management LLC boosted its stake in shares of Columbia Banking System by 98.1% in the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,648 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Columbia Banking System by 2.1% in the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares in the last quarter. Dubuque Bank & Trust Co. acquired a new stake in shares of Columbia Banking System in the 2nd quarter valued at approximately $188,000. Riverhead Capital Management LLC boosted its stake in shares of Columbia Banking System by 102.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 2,662 shares in the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of Columbia Banking System in the 2nd quarter valued at approximately $230,000. Institutional investors own 95.68% of the company’s stock.

A number of research firms have recently weighed in on COLB. Royal Bank Of Canada restated a “hold” rating and issued a $42.00 price target on shares of Columbia Banking System in a research note on Friday, July 28th. BidaskClub downgraded shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday. DA Davidson restated a “buy” rating and issued a $48.00 price target (up from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Finally, Piper Jaffray Companies upgraded shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and raised their price target for the company from $43.00 to $46.00 in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $45.60.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.18. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The company had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. During the same period in the prior year, the business earned $0.47 earnings per share. Columbia Banking System’s revenue for the quarter was up 16.9% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, October 30th. Columbia Banking System’s payout ratio is currently 40.00%.

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Columbia Banking System Company Profile

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.

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

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