Bank of New York Mellon Corp Has $100.18 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Bank of New York Mellon Corp trimmed its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,709,139 shares of the financial services provider’s stock after selling 206,167 shares during the period. Bank of New York Mellon Corp owned about 1.77% of Columbia Banking System worth $100,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 464 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Columbia Banking System by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock valued at $1,025,000 after buying an additional 544 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Columbia Banking System by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after buying an additional 612 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Columbia Banking System by 1.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider’s stock worth $1,342,000 after acquiring an additional 621 shares in the last quarter. Finally, Caprock Group LLC increased its position in shares of Columbia Banking System by 2.5% during the third quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 682 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COLB. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $35.00 in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on 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. Citigroup cut their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. UBS Group began coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price objective 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. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $26.73 on Friday. The company’s 50-day moving average is $27.51 and its 200-day moving average is $27.40. The firm has a market capitalization of $5.60 billion, a PE ratio of 10.52 and a beta of 0.66. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (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%. As a group, analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s dividend payout ratio is 56.69%.

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.