Barrow Hanley Mewhinney & Strauss LLC Sells 93,798 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Barrow Hanley Mewhinney & Strauss LLC lowered its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,223,884 shares of the financial services provider's stock after selling 93,798 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.06% of Columbia Banking System worth $60,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in shares of 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 acquiring an additional 4,408 shares during the last quarter. Pacer Advisors Inc. raised its position in Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock worth $844,000 after purchasing an additional 612 shares during the period. William Blair Investment Management LLC raised its position in Columbia Banking System by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,774,443 shares of the financial services provider's stock worth $47,928,000 after purchasing an additional 42,527 shares during the period. JPMorgan Chase & Co. lifted its stake in Columbia Banking System by 158.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,851,217 shares of the financial services provider's stock worth $50,001,000 after purchasing an additional 1,134,544 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Columbia Banking System by 29.0% during the fourth quarter. LPL Financial LLC now owns 96,670 shares of the financial services provider's stock valued at $2,611,000 after buying an additional 21,713 shares during the period. Hedge funds and other institutional investors own 92.53% of the company's stock.

Insiders Place Their Bets

In other news, VP Torran B. Nixon sold 4,481 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COLB shares. Wall Street Zen initiated coverage on Columbia Banking System in a report on Thursday. They issued a "hold" rating on the stock. Piper Sandler reduced their price target on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. DA Davidson set a $25.00 price target on Columbia Banking System and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Citigroup dropped their price objective on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.64.

Columbia Banking System Trading Down 0.1%

Shares of Columbia Banking System stock opened at $23.66 on Friday. Columbia Banking System, Inc. has a 12-month low of $18.11 and a 12-month high of $32.85. The company has a market cap of $4.97 billion, a P/E ratio of 9.31 and a beta of 0.59. The company's fifty day simple moving average is $23.44 and its two-hundred day simple moving average is $26.53.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. The firm had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.09%. Columbia Banking System's dividend payout ratio (DPR) is 61.02%.

Columbia Banking System Profile

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.

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