First Hawaiian Bank Trims Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

First Hawaiian Bank lowered its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 17.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,814 shares of the financial services provider’s stock after selling 10,514 shares during the quarter. First Hawaiian Bank’s holdings in Columbia Banking System were worth $1,318,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in Columbia Banking System in the third quarter worth approximately $288,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Columbia Banking System by 1.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after acquiring an additional 36,867 shares during the last quarter. Pathstone Holdings LLC raised its stake in shares of Columbia Banking System by 45.7% in the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after acquiring an additional 37,941 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Columbia Banking System by 439.5% in the 3rd 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. Finally, Jane Street Group LLC boosted its position in shares of Columbia Banking System by 219.3% during the 3rd quarter. Jane Street Group LLC now owns 212,889 shares of the financial services provider’s stock worth $5,559,000 after purchasing an additional 146,219 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on COLB shares. Keefe, Bruyette & Woods boosted their target price on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada increased their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Raymond James lifted their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $35.00 in a research note on Monday. Finally, UBS Group started coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus price target of $29.31.

Columbia Banking System Stock Down 0.1 %

COLB stock opened at $27.16 on Friday. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 11.76 and a beta of 0.67. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The business has a 50 day moving average price of $29.27 and a 200 day moving average price of $26.04.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s payout ratio is currently 62.34%.

Columbia Banking System Profile

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.