Keudell Morrison Wealth Management Sells 1,283 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Keudell Morrison Wealth Management trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,656 shares of the financial services provider’s stock after selling 1,283 shares during the period. Keudell Morrison Wealth Management’s holdings in Columbia Banking System were worth $207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Columbia Banking System in the 3rd quarter worth $288,000. Nordea Investment Management AB increased its position in 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 buying an additional 176,334 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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 buying an additional 97,498 shares in the last quarter. Pathstone Holdings LLC increased its position in Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after buying an additional 37,941 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Columbia Banking System by 439.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 65,072 shares in the last quarter. 92.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COLB shares. Citigroup reduced their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Wedbush increased their target price on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $33.00 to $35.00 in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Stock Down 0.5 %

COLB stock opened at $27.90 on Friday. The business has a fifty day moving average of $28.51 and a two-hundred day moving average of $26.93. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 10.98 and a beta of 0.67. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.74 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 5.16%. Columbia Banking System’s dividend payout ratio (DPR) 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.