Dana Investment Advisors Inc. Has $3.30 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Dana Investment Advisors Inc. trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,079 shares of the financial services provider’s stock after selling 7,038 shares during the period. Dana Investment Advisors Inc. owned about 0.06% of Columbia Banking System worth $3,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in Columbia Banking System by 3.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 122,274 shares of the financial services provider’s stock worth $3,303,000 after purchasing an additional 4,408 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Columbia Banking System during the 3rd quarter valued at about $288,000. Pacer Advisors Inc. boosted its position in shares of Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 612 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Columbia Banking System by 82.0% during the 4th quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider’s stock valued at $10,592,000 after acquiring an additional 176,334 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Columbia Banking System by 15.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider’s stock valued at $18,712,000 after acquiring an additional 97,498 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Trading Up 0.3 %

Shares of NASDAQ COLB opened at $25.04 on Friday. 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 cap of $5.25 billion, a PE ratio of 9.86 and a beta of 0.62. The company has a 50-day moving average of $27.35 and a two-hundred day moving average of $27.43.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Friday, February 28th. Columbia Banking System’s dividend payout ratio is presently 56.69%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COLB. UBS Group began coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. Barclays lifted their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $35.00 in a research report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.38.

Insiders Place Their Bets

In related news, VP Torran B. Nixon sold 4,481 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the sale, the vice president now directly owns 104,869 shares of the company’s stock, valued at $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.62% of the company’s stock.

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.