Dakota Wealth Management Sells 640 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Dakota Wealth Management lowered its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,758 shares of the financial services provider’s stock after selling 640 shares during the period. Dakota Wealth Management’s holdings in Columbia Banking System were worth $615,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Columbia Banking System by 812.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after buying an additional 2,833,744 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Columbia Banking System by 41.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,969 shares of the financial services provider’s stock valued at $423,000 after buying an additional 6,786 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Columbia Banking System by 164.6% during the 2nd quarter. Hsbc Holdings PLC now owns 89,301 shares of the financial services provider’s stock worth $1,763,000 after acquiring an additional 55,552 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Columbia Banking System by 114.9% in the second quarter. Bank of Montreal Can now owns 76,298 shares of the financial services provider’s stock worth $1,520,000 after purchasing an additional 40,800 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Columbia Banking System in the second quarter valued at $560,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $27.96 on Friday. The business has a 50 day moving average of $28.78 and a 200-day moving average of $26.70. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The company has a market capitalization of $5.86 billion, a P/E ratio of 12.10 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. Equities analysts anticipate that Columbia Banking System, Inc. will post 2.66 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.15%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s payout ratio is currently 62.34%.

Analyst Upgrades and Downgrades

COLB has been the subject of several recent research reports. Raymond James increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Finally, UBS Group started coverage on Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $29.23.

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.