Segall Bryant & Hamill LLC Cuts Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Segall Bryant & Hamill LLC trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,509,019 shares of the financial services provider’s stock after selling 25,779 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Columbia Banking System were worth $40,759,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Columbia Banking System during the fourth quarter worth $32,000. Smartleaf Asset Management LLC raised its stake in shares of Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 780 shares during the last quarter. Principal Securities Inc. raised its position in Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock worth $57,000 after buying an additional 1,343 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Columbia Banking System by 36.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 801 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Columbia Banking System by 22,244.4% in the 4th quarter. Larson Financial Group LLC now owns 6,033 shares of the financial services provider’s stock valued at $163,000 after buying an additional 6,006 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Insider Activity at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the sale, the vice president now directly owns 104,869 shares of the company’s stock, valued at $2,725,545.31. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Columbia Banking System Price Performance

NASDAQ COLB opened at $25.67 on Tuesday. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85. The stock has a market capitalization of $5.38 billion, a P/E ratio of 10.11 and a beta of 0.62. The firm’s 50-day moving average is $26.79 and its two-hundred day moving average is $27.48.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share 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%. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.61%. The ex-dividend date was Friday, February 28th. Columbia Banking System’s payout ratio is 56.69%.

Analyst Upgrades and Downgrades

COLB has been the subject of several recent research reports. Citigroup cut their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, January 27th. UBS Group started coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $35.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays lifted their price objective 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. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.25.

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.