Columbia Banking System, Inc. (COLB) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,029,019 shares of the financial services provider’s stock after selling 181,214 shares during the period. Bank of New York Mellon Corp owned approximately 1.41% of Columbia Banking System worth $43,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. grew its stake in Columbia Banking System by 2.1% during 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 during the last quarter. Amalgamated Bank boosted its stake in shares of Columbia Banking System by 1.1% in the second quarter. Amalgamated Bank now owns 7,945 shares of the financial services provider’s stock worth $317,000 after buying an additional 84 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Columbia Banking System by 0.3% in the second quarter. Pinebridge Investments L.P. now owns 39,058 shares of the financial services provider’s stock worth $1,556,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Columbia Banking System by 0.7% in the second quarter. Arizona State Retirement System now owns 30,459 shares of the financial services provider’s stock worth $1,214,000 after buying an additional 200 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Columbia Banking System by 4.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 5,840 shares of the financial services provider’s stock worth $233,000 after buying an additional 238 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors.

In other Columbia Banking System news, CAO Barry Ray sold 750 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total transaction of $35,152.50. Following the completion of the transaction, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at $527,287.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.23% of the stock is owned by corporate insiders.

Columbia Banking System, Inc. (NASDAQ COLB) opened at $45.81 on Wednesday. The firm has a market capitalization of $2,670.00, a PE ratio of 21.05, a P/E/G ratio of 2.11 and a beta of 1.24. Columbia Banking System, Inc. has a fifty-two week low of $35.67 and a fifty-two week high of $48.06.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The company had revenue of $126.00 million during the quarter, compared to analysts’ expectations of $119.16 million. During the same quarter in the prior year, the firm posted $0.47 EPS. Columbia Banking System’s quarterly revenue was up 16.9% compared to the same quarter last year. research analysts predict that Columbia Banking System, Inc. will post 2.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.92%. Columbia Banking System’s payout ratio is currently 40.18%.

A number of analysts have recently commented on the company. Royal Bank Of Canada restated a “hold” rating and issued a $42.00 target price on shares of Columbia Banking System in a research note on Friday, September 8th. BidaskClub downgraded Columbia Banking System from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, October 31st. Finally, DA Davidson restated a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $45.60.

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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.

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

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