Peregrine Capital Management LLC Sells 19,927 Shares of Columbia Banking System, Inc. $COLB

Peregrine Capital Management LLC trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,150 shares of the financial services provider’s stock after selling 19,927 shares during the period. Peregrine Capital Management LLC’s holdings in Columbia Banking System were worth $5,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its position in shares of Columbia Banking System by 6.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock valued at $166,000 after buying an additional 348 shares during the last quarter. Hilton Head Capital Partners LLC grew its position in Columbia Banking System by 25.8% during the first quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock worth $53,000 after buying an additional 399 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Columbia Banking System by 1.2% during the fourth quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock valued at $1,072,000 after acquiring an additional 444 shares during the period. Linden Thomas Advisory Services LLC increased its stake in Columbia Banking System by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider’s stock valued at $3,422,000 after acquiring an additional 456 shares during the period. Finally, Sittner & Nelson LLC raised its holdings in Columbia Banking System by 1.2% in the 3rd quarter. Sittner & Nelson LLC now owns 37,519 shares of the financial services provider’s stock valued at $966,000 after acquiring an additional 460 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of COLB stock opened at $32.51 on Thursday. The stock’s fifty day simple moving average is $30.02 and its 200 day simple moving average is $29.28. Columbia Banking System, Inc. has a one year low of $22.77 and a one year high of $32.72. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 12.95 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 11.41% and a net margin of 19.28%.The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. On average, research analysts anticipate that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays cut their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 7th. UBS Group started coverage on Columbia Banking System in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Columbia Banking System in a research note on Monday. Finally, Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. One research 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 company. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and an average price target of $32.65.

Insider Activity

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

Columbia Banking System Company Profile

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.