South Dakota Investment Council Has $1.95 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

South Dakota Investment Council lessened its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 67.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,982 shares of the financial services provider's stock after selling 161,838 shares during the quarter. South Dakota Investment Council's holdings in Columbia Banking System were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COLB. State of Michigan Retirement System lifted its stake in shares of Columbia Banking System by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 500 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Columbia Banking System by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider's stock valued at $1,464,000 after purchasing an additional 500 shares in the last quarter. Xponance Inc. lifted its stake in shares of Columbia Banking System by 2.2% in the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider's stock valued at $606,000 after purchasing an additional 517 shares in the last quarter. Sippican Capital Advisors lifted its stake in shares of Columbia Banking System by 0.5% in the 1st quarter. Sippican Capital Advisors now owns 108,027 shares of the financial services provider's stock valued at $2,694,000 after purchasing an additional 540 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Columbia Banking System by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider's stock valued at $2,476,000 after purchasing an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Down 1.8%

COLB stock traded down $0.44 during trading on Thursday, reaching $23.95. 791,837 shares of the company's stock were exchanged, compared to its average volume of 1,887,052. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The company's fifty day moving average price is $23.90 and its 200-day moving average price is $24.80. The firm has a market cap of $5.03 billion, a PE ratio of 10.13 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. The company had revenue of $481.92 million during the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, sell-side analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.36 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.01%. Columbia Banking System's dividend payout ratio (DPR) is 61.02%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COLB shares. Barclays dropped their price objective on Columbia Banking System from $32.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 8th. Wells Fargo & Company downgraded Columbia Banking System from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $29.00 to $27.00 in a report on Thursday, July 10th. DA Davidson boosted their price target on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Royal Bank Of Canada lowered their price target on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Finally, Raymond James Financial set a $27.00 price target on Columbia Banking System and gave the company an "outperform" rating in a report on Thursday, April 24th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $28.79.

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.