Neuberger Berman Group LLC Sells 102,594 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Neuberger Berman Group LLC reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 3,061,401 shares of the financial services provider’s stock after selling 102,594 shares during the quarter. Neuberger Berman Group LLC’s holdings in Columbia Banking System were worth $118,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of Columbia Banking System by 5.7% in the second quarter. SG Americas Securities LLC now owns 7,137 shares of the financial services provider’s stock valued at $275,000 after buying an additional 386 shares during the period. CWM Advisors LLC raised its stake in shares of Columbia Banking System by 3.3% in the second quarter. CWM Advisors LLC now owns 12,429 shares of the financial services provider’s stock valued at $479,000 after buying an additional 398 shares during the period. Encompass Wealth Advisors LLC grew its position in shares of Columbia Banking System by 5.9% in the first quarter. Encompass Wealth Advisors LLC now owns 7,127 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 400 shares in the last quarter. Profund Advisors LLC grew its position in shares of Columbia Banking System by 5.9% in the second quarter. Profund Advisors LLC now owns 9,786 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 548 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Columbia Banking System by 6.9% in the first quarter. Mutual of America Capital Management LLC now owns 9,566 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 619 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

Columbia Banking System stock opened at $34.42 on Thursday. Columbia Banking System, Inc. has a 52 week low of $24.91 and a 52 week high of $50.68. The business has a 50-day simple moving average of $36.33 and a 200 day simple moving average of $39.11. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 11.67 and a beta of 0.90.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Wednesday, July 28th. The financial services provider reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.12. Columbia Banking System had a return on equity of 9.07% and a net margin of 34.64%. The business had revenue of $146.21 million during the quarter, compared to analysts’ expectations of $145.35 million. Equities research analysts predict that Columbia Banking System, Inc. will post 2.75 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Stockholders of record on Tuesday, October 12th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, October 11th. Columbia Banking System’s payout ratio is currently 51.61%.

Several equities analysts have recently weighed in on COLB shares. Raymond James upgraded Columbia Banking System from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research report on Thursday, October 7th. DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and lifted their price target for the company from $39.00 to $41.00 in a research report on Wednesday. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reduced their price target on Columbia Banking System from $42.00 to $38.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Stephens reduced their price target on Columbia Banking System from $40.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.57.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It specializes in personal, business, and wealth management. It offers checking and savings accounts; debit and credit cards; digital banking; personal loans; home loans; foreign currency; professional banking; treasury management; merchant card services; international banking; financial services; private banking; and trust and investment services.

Further Reading: Put Option

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB).

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.