Versant Capital Management Inc Cuts Stock Position in Columbia Banking System Inc (NASDAQ:COLB)

Versant Capital Management Inc lessened its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 23.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,297 shares of the financial services provider’s stock after selling 387 shares during the period. Versant Capital Management Inc’s holdings in Columbia Banking System were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Advisor Group Inc. increased its stake in Columbia Banking System by 9.2% in the 4th quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock worth $132,000 after buying an additional 307 shares in the last quarter. Toronto Dominion Bank increased its stake in Columbia Banking System by 48.7% in the 1st quarter. Toronto Dominion Bank now owns 1,005 shares of the financial services provider’s stock worth $33,000 after buying an additional 329 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Columbia Banking System by 1.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 31,700 shares of the financial services provider’s stock worth $1,147,000 after buying an additional 500 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Columbia Banking System by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 28,873 shares of the financial services provider’s stock worth $1,045,000 after buying an additional 500 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in Columbia Banking System by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 23,530 shares of the financial services provider’s stock worth $769,000 after buying an additional 780 shares in the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.

A number of equities research analysts have issued reports on COLB shares. Royal Bank of Canada set a $38.00 price target on Columbia Banking System and gave the stock a “hold” rating in a research note on Friday, July 26th. ValuEngine upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Columbia Banking System currently has an average rating of “Hold” and a consensus price target of $41.71.

In related news, EVP Andy Mcdonald sold 3,481 shares of Columbia Banking System stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total value of $122,043.86. Following the completion of the transaction, the executive vice president now owns 36,264 shares in the company, valued at $1,271,415.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.

Shares of Columbia Banking System stock traded down $0.56 during trading on Friday, reaching $35.67. 2,048 shares of the stock traded hands, compared to its average volume of 181,440. The firm has a market cap of $2.77 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The firm’s fifty day moving average price is $36.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86. Columbia Banking System Inc has a 52-week low of $30.65 and a 52-week high of $43.60.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. The firm had revenue of $150.76 million during the quarter, compared to analyst estimates of $147.22 million. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. During the same quarter last year, the business posted $0.57 earnings per share. On average, sell-side analysts predict that Columbia Banking System Inc will post 2.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.12 annualized dividend and a yield of 3.14%. Columbia Banking System’s dividend payout ratio is currently 45.34%.

About Columbia Banking System

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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

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