Commonwealth Equity Services LLC Sells 882 Shares of Columbia Banking System Inc (NASDAQ:COLB)

Commonwealth Equity Services LLC cut its stake in shares of Columbia Banking System Inc (NASDAQ:COLB) by 2.4% in the third quarter, HoldingsChannel reports. The fund owned 35,533 shares of the financial services provider’s stock after selling 882 shares during the period. Commonwealth Equity Services LLC’s holdings in Columbia Banking System were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in COLB. Advisors Preferred LLC bought a new position in Columbia Banking System in the 2nd quarter worth approximately $26,000. TRUE Private Wealth Advisors bought a new position in Columbia Banking System in the 2nd quarter worth approximately $86,000. Quantamental Technologies LLC boosted its stake in Columbia Banking System by 205.5% in the 2nd quarter. Quantamental Technologies LLC now owns 2,982 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 2,006 shares during the period. Captrust Financial Advisors boosted its stake in Columbia Banking System by 32.1% in the 2nd quarter. Captrust Financial Advisors now owns 3,995 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 970 shares during the period. Finally, Strs Ohio boosted its stake in Columbia Banking System by 14.3% in the 2nd quarter. Strs Ohio now owns 4,800 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 600 shares during the period. Institutional investors own 89.71% of the company’s stock.

COLB stock opened at $40.02 on Thursday. Columbia Banking System Inc has a 1-year low of $30.65 and a 1-year high of $41.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.20 and a beta of 1.08. The business has a 50 day simple moving average of $37.86 and a two-hundred day simple moving average of $36.21.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $150.48 million during the quarter, compared to the consensus estimate of $146.70 million. Columbia Banking System had a return on equity of 9.21% and a net margin of 31.02%. During the same period in the prior year, the company earned $0.63 EPS. Sell-side analysts anticipate that Columbia Banking System Inc will post 2.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.80%. Columbia Banking System’s dividend payout ratio is currently 45.34%.

Several research firms have weighed in on COLB. Zacks Investment Research downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Royal Bank of Canada set a $40.00 price target on Columbia Banking System and gave the stock a “hold” rating in a research note on Friday, October 25th. BidaskClub upgraded Columbia Banking System from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Stephens restated a “hold” rating and issued a $38.00 price target on shares of Columbia Banking System in a research note on Thursday, October 24th. Finally, ValuEngine upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Columbia Banking System currently has a consensus rating of “Hold” and a consensus price target of $38.67.

In other news, EVP David C. Lawson sold 1,164 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $39.95, for a total transaction of $46,501.80. Following the completion of the transaction, the executive vice president now directly owns 16,544 shares in the company, valued at approximately $660,932.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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

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