Clifford Capital Partners LLC Trims Stock Position in Columbia Banking System, Inc. $COLB

Clifford Capital Partners LLC cut its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414,492 shares of the financial services provider's stock after selling 137,400 shares during the period. Columbia Banking System comprises approximately 2.0% of Clifford Capital Partners LLC's portfolio, making the stock its 29th largest position. Clifford Capital Partners LLC owned approximately 0.14% of Columbia Banking System worth $11,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. lifted its position in Columbia Banking System by 6.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider's stock valued at $166,000 after acquiring an additional 348 shares during the last quarter. Wedbush Securities Inc. lifted its position in Columbia Banking System by 4.5% in the third quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider's stock valued at $255,000 after acquiring an additional 423 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Columbia Banking System by 1.2% in the fourth quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider's stock valued at $1,072,000 after acquiring an additional 444 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in Columbia Banking System by 0.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider's stock valued at $3,422,000 after acquiring an additional 456 shares during the last quarter. Finally, Sittner & Nelson LLC lifted its position in Columbia Banking System by 1.2% in the third quarter. Sittner & Nelson LLC now owns 37,519 shares of the financial services provider's stock valued at $966,000 after acquiring an additional 460 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the transaction, the chief marketing officer directly owned 18,636 shares in the company, valued at $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by company insiders.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $30.05 on Thursday. The company has a 50-day simple moving average of $29.52 and a 200-day simple moving average of $29.05. Columbia Banking System, Inc. has a one year low of $21.91 and a one year high of $32.70. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 11.97 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business had revenue of $675.00 million during the quarter, compared to analysts' expectations of $677.34 million. During the same period in the prior year, the company earned $0.67 earnings per share. The business's revenue was up 37.9% compared to the same quarter last year. As a group, research analysts forecast that Columbia Banking System, Inc. will post 3.08 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, May 29th. Columbia Banking System's payout ratio is 58.96%.

Wall Street Analyst Weigh In

COLB has been the subject of a number of research reports. Weiss Ratings raised shares of Columbia Banking System from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. reduced their target price on shares of Columbia Banking System from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday, April 1st. Wells Fargo & Company upped their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Monday, March 30th. Wall Street Zen cut shares of Columbia Banking System from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Citigroup upped their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.13.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company's offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.

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