D.A. Davidson & CO. Has $3.95 Million Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

D.A. Davidson & CO. trimmed its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 26.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,248 shares of the financial services provider’s stock after selling 51,875 shares during the quarter. D.A. Davidson & CO.’s holdings in Columbia Banking System were worth $3,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its holdings in Columbia Banking System by 171.3% during the fourth quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,343 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,553 shares in the last quarter. Signaturefd LLC boosted its holdings in Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 709 shares in the last quarter. Blue Trust Inc. boosted its holdings in Columbia Banking System by 14.9% during the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 875 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Columbia Banking System in the 3rd quarter worth approximately $208,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on COLB shares. Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. UBS Group started coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price on the stock. Truist Financial boosted their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Citigroup reduced their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $27.04 on Friday. The firm has a fifty day moving average of $27.68 and a two-hundred day moving average of $27.24. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 10.65 and a beta of 0.66. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, February 28th. Columbia Banking System’s payout ratio is 56.69%.

Columbia Banking System Company 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.