D.A. Davidson & CO. Has $5.67 Million Holdings in Columbia Banking System, Inc. $COLB

D.A. Davidson & CO. increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,905 shares of the financial services provider’s stock after purchasing an additional 20,975 shares during the period. D.A. Davidson & CO. owned about 0.07% of Columbia Banking System worth $5,675,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COLB. Wellington Management Group LLP increased its holdings in Columbia Banking System by 31.4% in the 4th quarter. Wellington Management Group LLP now owns 18,106,228 shares of the financial services provider’s stock valued at $506,069,000 after buying an additional 4,324,006 shares during the period. State Street Corp raised its position in Columbia Banking System by 32.5% in the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock worth $345,113,000 after purchasing an additional 3,290,560 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Columbia Banking System by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,564,529 shares of the financial services provider’s stock worth $351,179,000 after purchasing an additional 163,543 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Columbia Banking System by 140.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after purchasing an additional 5,063,212 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Columbia Banking System by 5.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,422,137 shares of the financial services provider’s stock valued at $207,449,000 after purchasing an additional 403,049 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COLB has been the subject of several analyst reports. Fundamental Research set a $35.00 target price on Columbia Banking System in a research report on Wednesday, July 1st. Wells Fargo & Company upped their price target on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. UBS Group began coverage on Columbia Banking System in a research note on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Columbia Banking System in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.81.

Insider Activity at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by company insiders.

Columbia Banking System Trading Down 1.1%

Shares of NASDAQ COLB opened at $33.24 on Friday. The firm has a market capitalization of $9.62 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.26 and a beta of 0.62. Columbia Banking System, Inc. has a 1 year low of $22.77 and a 1 year high of $33.67. The firm’s 50-day moving average is $30.66 and its 200-day moving average is $29.56.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, equities research analysts anticipate that Columbia Banking System, Inc. will post 3.05 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.