44 Wealth Management LLC Has $238,000 Position in Columbia Banking System, Inc. (NASDAQ:COLB)

44 Wealth Management LLC lowered its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 7.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,797 shares of the financial services provider’s stock after selling 757 shares during the period. 44 Wealth Management LLC’s holdings in Columbia Banking System were worth $238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Columbia Banking System during the third quarter worth $288,000. Nordea Investment Management AB raised its position in shares of Columbia Banking System by 82.0% during the fourth quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock worth $10,592,000 after acquiring an additional 176,334 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Columbia Banking System by 15.7% during the third quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider’s stock worth $18,712,000 after acquiring an additional 97,498 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of Columbia Banking System by 45.7% during the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock worth $3,156,000 after acquiring an additional 37,941 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Columbia Banking System by 439.5% during the third quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock worth $2,086,000 after acquiring an additional 65,072 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $26.51 on Friday. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The business has a 50-day moving average of $27.63 and a two-hundred day moving average of $27.29. The company has a market capitalization of $5.55 billion, a P/E ratio of 10.44 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results 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 return on equity of 11.21% and a net margin of 17.99%. On average, equities analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 5.43%. Columbia Banking System’s dividend payout ratio is currently 56.69%.

Analyst Ratings Changes

A number of research firms have recently weighed in on COLB. Keefe, Bruyette & Woods dropped their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, January 24th. UBS Group began coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price for the company. Citigroup dropped their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Barclays upped their price objective on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Stephens dropped their price objective on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.38.

About Columbia Banking System

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.