Moody Aldrich Partners LLC Sells 55,318 Shares of Columbia Banking System, Inc. $COLB

by · The Markets Daily

Moody Aldrich Partners LLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 271,719 shares of the financial services provider’s stock after selling 55,318 shares during the quarter. Columbia Banking System comprises about 1.3% of Moody Aldrich Partners LLC’s investment portfolio, making the stock its 12th largest holding. Moody Aldrich Partners LLC owned approximately 0.13% of Columbia Banking System worth $6,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COLB. State Street Corp raised its stake in shares of Columbia Banking System by 0.6% during the 2nd quarter. State Street Corp now owns 10,117,111 shares of the financial services provider’s stock worth $236,538,000 after acquiring an additional 64,096 shares in the last quarter. American Century Companies Inc. grew its holdings in Columbia Banking System by 18.3% in the second quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider’s stock worth $209,220,000 after purchasing an additional 1,381,597 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Columbia Banking System by 2.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,816,989 shares of the financial services provider’s stock worth $182,761,000 after purchasing an additional 149,718 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Columbia Banking System by 11.1% during the second quarter. JPMorgan Chase & Co. now owns 6,606,146 shares of the financial services provider’s stock worth $154,452,000 after purchasing an additional 658,196 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Columbia Banking System by 2.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,998,603 shares of the financial services provider’s stock valued at $140,247,000 after purchasing an additional 115,174 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $27.95 on Thursday. The firm has a market capitalization of $8.36 billion, a P/E ratio of 12.59 and a beta of 0.62. The stock has a 50-day simple moving average of $27.58 and a two-hundred day simple moving average of $26.00. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $29.61.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%.The company had revenue of $348.47 million during the quarter. As a group, analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.3%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, November 28th. Columbia Banking System’s payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COLB shares. Royal Bank Of Canada upped their target price on Columbia Banking System from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Banking System in a report on Monday. Barclays increased their price objective on shares of Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods upped their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Cowen started coverage on shares of Columbia Banking System in a research note on Wednesday, September 24th. They set a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and an average target price of $29.58.

Check Out Our Latest Stock Report on COLB

Columbia Banking System Profile

(Free Report)

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.

See Also

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