New York State Common Retirement Fund trimmed its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,235 shares of the financial services provider’s stock after selling 8,457 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Columbia Banking System worth $3,118,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Columbia Banking System by 49,309.5% in the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after purchasing an additional 7,192,784 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Columbia Banking System by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,363,987 shares of the financial services provider’s stock worth $209,142,000 after purchasing an additional 257,821 shares during the last quarter. State Street Corp raised its stake in shares of Columbia Banking System by 74.9% in the first quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock worth $107,399,000 after purchasing an additional 1,179,254 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Columbia Banking System by 11.2% in the second quarter. Franklin Resources Inc. now owns 2,708,796 shares of the financial services provider’s stock worth $107,946,000 after purchasing an additional 273,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Columbia Banking System by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,087,588 shares of the financial services provider’s stock worth $81,395,000 after purchasing an additional 132,231 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Shares of Columbia Banking System, Inc. (NASDAQ COLB) opened at 42.48 on Friday. The company’s 50-day moving average price is $40.12 and its 200 day moving average price is $39.15. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 21.57 and a beta of 1.26. Columbia Banking System, Inc. has a 12-month low of $31.75 and a 12-month high of $45.68.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The firm had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities research analysts forecast that Columbia Banking System, Inc. will post $2.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, October 30th. Columbia Banking System’s dividend payout ratio is presently 44.67%.

TRADEMARK VIOLATION NOTICE: “Columbia Banking System, Inc. (COLB) Shares Sold by New York State Common Retirement Fund” was published by Watch List News and is the property of of Watch List News. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.watchlistnews.com/columbia-banking-system-inc-colb-shares-sold-by-new-york-state-common-retirement-fund/1645109.html.

Several brokerages have recently issued reports on COLB. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. DA Davidson restated a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Columbia Banking System in a research note on Tuesday. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $43.00 to $46.00 in a research note on Monday, July 31st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $42.00 price objective on shares of Columbia Banking System in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $45.00.

Columbia Banking System Profile

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB).

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

Receive News & Ratings for Columbia Banking System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.