Allworth Financial LP Has $4.93 Million Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Allworth Financial LP cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 171,455 shares of the financial services provider’s stock after selling 4,083 shares during the period. Allworth Financial LP owned 0.08% of Columbia Banking System worth $4,933,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of COLB. Creative Planning grew its stake in shares of Columbia Banking System by 19.9% in the third quarter. Creative Planning now owns 50,429 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 8,366 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Columbia Banking System by 2.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 718 shares during the period. Signaturefd LLC increased its stake in shares of Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $208,000. Finally, Moody Aldrich Partners LLC raised its holdings in shares of Columbia Banking System by 12.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 314,999 shares of the financial services provider’s stock valued at $8,225,000 after purchasing an additional 34,098 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on COLB. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Wedbush increased their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods cut their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, January 24th. Citigroup decreased their price objective on shares of 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, Barclays raised their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.38.

Columbia Banking System Stock Performance

COLB opened at $27.41 on Tuesday. The firm has a market cap of $5.74 billion, a P/E ratio of 10.79 and a beta of 0.66. The business’s fifty day moving average is $27.82 and its 200-day moving average is $27.21. 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 announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. On average, research analysts predict that Columbia Banking System, Inc. will post 2.72 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.36 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 5.25%. Columbia Banking System’s payout ratio is 56.69%.

About Columbia Banking System

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.