Gilman Hill Asset Management LLC Sells 12,505 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Gilman Hill Asset Management LLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 274,350 shares of the financial services provider’s stock after selling 12,505 shares during the period. Columbia Banking System makes up approximately 1.3% of Gilman Hill Asset Management LLC’s holdings, making the stock its 20th largest holding. Gilman Hill Asset Management LLC’s holdings in Columbia Banking System were worth $7,410,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC purchased a new position in shares of Columbia Banking System in the 4th quarter valued at approximately $1,784,000. Wedmont Private Capital purchased a new position in Columbia Banking System during the fourth quarter valued at $209,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock valued at $1,025,000 after buying an additional 544 shares in the last quarter. Range Financial Group LLC purchased a new stake in shares of Columbia Banking System in the 4th quarter worth about $1,866,000. Finally, Nordea Investment Management AB increased its stake in shares of Columbia Banking System by 82.0% in the 4th quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock worth $10,592,000 after acquiring an additional 176,334 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COLB shares. Keefe, Bruyette & Woods boosted their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Barclays boosted their price target on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $33.00 to $35.00 in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus target price of $29.31.

Columbia Banking System Stock Up 1.6 %

Shares of Columbia Banking System stock opened at $28.58 on Monday. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 12.37 and a beta of 0.67. The company’s 50 day moving average is $29.05 and its 200 day moving average is $26.48.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period last year, the business posted $0.79 EPS. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.63 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Columbia Banking System Company Profile

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.