Columbia Banking System, Inc. $COLB Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,084,555 shares of the financial services provider’s stock after selling 44,767 shares during the quarter. Pzena Investment Management LLC owned approximately 0.74% of Columbia Banking System worth $59,618,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Columbia Banking System in the third quarter valued at $7,711,000. Moody Aldrich Partners LLC increased its position in Columbia Banking System by 3.9% during the 3rd quarter. Moody Aldrich Partners LLC now owns 271,306 shares of the financial services provider’s stock valued at $7,759,000 after purchasing an additional 10,143 shares during the period. Access Investment Management LLC raised its holdings in Columbia Banking System by 2.4% in the 3rd quarter. Access Investment Management LLC now owns 78,389 shares of the financial services provider’s stock worth $2,242,000 after purchasing an additional 1,835 shares in the last quarter. Signaturefd LLC raised its holdings in Columbia Banking System by 17.3% in the 3rd quarter. Signaturefd LLC now owns 10,792 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 1,595 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Columbia Banking System by 5.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 26,052 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 1,366 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Columbia Banking System

In related news, Director Steven Gardner sold 10,522 shares of Columbia Banking System stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $31.23, for a total transaction of $328,602.06. Following the sale, the director owned 2,577 shares of the company’s stock, valued at approximately $80,479.71. This trade represents a 80.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Columbia Banking System Stock Performance

COLB stock opened at $31.37 on Thursday. The business’s 50-day moving average is $29.65 and its two-hundred day moving average is $29.91. Columbia Banking System, Inc. has a fifty-two week low of $25.51 and a fifty-two week high of $33.67. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.88 and a beta of 0.72.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $702.00 million for the quarter, compared to the consensus estimate of $687.74 million. Columbia Banking System had a net margin of 22.83% and a return on equity of 11.93%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Equities analysts predict that Columbia Banking System, Inc. will post 3.07 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. Columbia Banking System’s payout ratio is 51.21%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COLB shares. Citigroup cut their target price on shares of Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 22nd. DA Davidson raised shares of Columbia Banking System from a “neutral” rating to a “buy” rating and increased their price target for the stock from $33.00 to $36.00 in a research note on Tuesday, September 1st. Wells Fargo & Company decreased their price target on shares of Columbia Banking System from $34.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. TD Cowen raised their price objective on shares of Columbia Banking System from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, October 27th. Finally, Zacks Research raised Columbia Banking System from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Columbia Banking System has a consensus rating of “Hold” and an average target price of $33.62.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company headquartered in Tacoma, Washington. It operates through Umpqua Bank, a full-service financial institution serving consumers, businesses, professionals and institutions.

Umpqua Bank provides deposit accounts, residential and commercial lending, business banking, treasury and cash-management services, mortgage banking, personal banking and wealth-management solutions. Its offerings include checking and savings accounts, commercial real estate and business loans, consumer credit, online and mobile banking, and investment and advisory services.

Columbia Banking System traces its roots to the formation of Columbia State Bank in Washington in 1993.