44 Wealth Management LLC Sells 757 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

44 Wealth Management LLC trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,797 shares of the financial services provider’s stock after selling 757 shares during the period. 44 Wealth Management LLC’s holdings in Columbia Banking System were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in COLB. Charles Schwab Investment Management Inc. increased its position in Columbia Banking System by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock worth $185,623,000 after buying an additional 178,327 shares during the period. Wellington Management Group LLP increased its position in Columbia Banking System by 31.9% in the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after buying an additional 1,611,563 shares during the period. Janus Henderson Group PLC increased its position in Columbia Banking System by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after buying an additional 562,467 shares during the period. Fisher Asset Management LLC increased its position in Columbia Banking System by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 1,614,940 shares of the financial services provider’s stock worth $42,166,000 after buying an additional 53,847 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in Columbia Banking System by 14.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,534,798 shares of the financial services provider’s stock worth $40,074,000 after buying an additional 190,311 shares during the period. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Price Performance

Shares of COLB stock opened at $26.51 on Friday. The stock’s fifty day simple moving average is $27.63 and its 200 day simple moving average is $27.29. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 10.44 and a beta of 0.66. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.43%. The ex-dividend date is Friday, February 28th. Columbia Banking System’s dividend payout ratio is 56.69%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Keefe, Bruyette & Woods dropped their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, January 24th. Barclays lifted their price target 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. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Truist Financial lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Stephens decreased their price objective on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $30.38.

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.