William Blair Investment Management LLC Trims Stock Holdings in Columbia Banking System, Inc. $COLB

William Blair Investment Management LLC cut its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,003,636 shares of the financial services provider’s stock after selling 115,288 shares during the quarter. William Blair Investment Management LLC’s holdings in Columbia Banking System were worth $25,834,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in COLB. True Wealth Design LLC grew its position in shares of Columbia Banking System by 612.8% during the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after buying an additional 864 shares in the last quarter. West Oak Capital LLC bought a new position in Columbia Banking System during the 3rd quarter valued at $28,000. Quent Capital LLC acquired a new position in Columbia Banking System during the 3rd quarter worth $29,000. Geneos Wealth Management Inc. increased its position in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $31,000. 92.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, Director Steven R. Gardner sold 13,725 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $29.04 on Tuesday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.70. The business’s fifty day moving average price is $29.66 and its two-hundred day moving average price is $27.76. The firm has a market capitalization of $8.69 billion, a PE ratio of 12.85 and a beta of 0.61.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.37 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.48 annualized dividend and a yield of 5.1%. Columbia Banking System’s dividend payout ratio is 65.49%.

Wall Street Analyst Weigh In

COLB has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Wall Street Zen raised Columbia Banking System to a “hold” rating in a report on Saturday, December 27th. Royal Bank Of Canada lifted their target price on Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Citigroup boosted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.04.

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.