South Dakota Investment Council Sells 21,100 Shares of Columbia Banking System, Inc. $COLB

South Dakota Investment Council reduced its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 40.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,907 shares of the financial services provider’s stock after selling 21,100 shares during the period. South Dakota Investment Council’s holdings in Columbia Banking System were worth $848,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its holdings in Columbia Banking System by 6.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 348 shares during the period. Hilton Head Capital Partners LLC lifted its stake in shares of Columbia Banking System by 25.8% in the first quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock valued at $53,000 after buying an additional 399 shares during the period. State of Michigan Retirement System increased its stake in Columbia Banking System by 0.6% during the first quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock valued at $1,949,000 after acquiring an additional 400 shares during the period. Kera Capital Partners Inc. raised its holdings in Columbia Banking System by 5.7% in the 1st quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 425 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Columbia Banking System by 1.2% in the 4th quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock worth $1,072,000 after acquiring an additional 444 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Trading Up 0.1%

Columbia Banking System stock opened at $31.27 on Friday. The company has a market cap of $9.05 billion, a PE ratio of 12.46, a PEG ratio of 3.10 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 company’s 50-day moving average is $31.16 and its two-hundred day moving average is $29.77.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The firm had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $687.40 million. During the same period last year, the firm earned $0.76 earnings per share. Research analysts forecast that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Insider Buying and Selling

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the transaction, the chief marketing officer owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on COLB shares. Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Barclays increased their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Piper Sandler increased their target price on Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Fundamental Research set a $35.00 price objective on shares of Columbia Banking System in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.27.

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.