Principal Financial Group Inc. Reduces Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Principal Financial Group Inc. cut its position in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 480,735 shares of the financial services provider’s stock after selling 38,804 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of Columbia Banking System worth $13,773,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in shares of Columbia Banking System during the 1st quarter worth about $1,865,000. Everence Capital Management Inc. lifted its holdings in Columbia Banking System by 34.0% during the 2nd quarter. Everence Capital Management Inc. now owns 14,740 shares of the financial services provider’s stock valued at $422,000 after buying an additional 3,740 shares in the last quarter. Boston Partners lifted its holdings in Columbia Banking System by 0.3% during the 1st quarter. Boston Partners now owns 526,997 shares of the financial services provider’s stock valued at $16,855,000 after buying an additional 1,581 shares in the last quarter. Profund Advisors LLC lifted its holdings in Columbia Banking System by 24.1% during the 1st quarter. Profund Advisors LLC now owns 10,802 shares of the financial services provider’s stock valued at $349,000 after buying an additional 2,099 shares in the last quarter. Finally, TD Asset Management Inc. bought a new stake in Columbia Banking System during the 2nd quarter valued at about $1,061,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, October 21st. StockNews.com assumed coverage on shares of Columbia Banking System in a report on Wednesday, October 12th. They set a “hold” rating for the company.

Columbia Banking System Stock Down 0.5 %

Shares of NASDAQ COLB opened at $33.76 on Friday. The stock has a market capitalization of $2.66 billion, a PE ratio of 11.76 and a beta of 0.68. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.01. Columbia Banking System, Inc. has a 12-month low of $26.97 and a 12-month high of $37.65. The stock’s fifty day simple moving average is $31.67 and its two-hundred day simple moving average is $30.37.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Monday, October 17th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. Columbia Banking System’s dividend payout ratio is presently 41.81%.

About Columbia Banking System

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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 the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other 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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