Rhumbline Advisers reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,683 shares of the financial services provider’s stock after selling 1,105 shares during the period. Rhumbline Advisers owned approximately 0.24% of Columbia Banking System worth $5,606,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Columbia Banking System by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after buying an additional 46 shares in the last quarter. 1st Global Advisors Inc. increased its stake in shares of Columbia Banking System by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 6,179 shares of the financial services provider’s stock valued at $241,000 after buying an additional 85 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Columbia Banking System by 0.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock valued at $517,000 after buying an additional 90 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Columbia Banking System by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the financial services provider’s stock valued at $948,000 after buying an additional 100 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Columbia Banking System by 2.4% in the first quarter. Suntrust Banks Inc. now owns 7,697 shares of the financial services provider’s stock valued at $300,000 after buying an additional 177 shares in the last quarter. 96.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Columbia Banking System, Inc. (NASDAQ COLB) opened at 37.15 on Thursday. Columbia Banking System, Inc. has a 52 week low of $31.60 and a 52 week high of $45.68. The stock has a market capitalization of $2.17 billion, a P/E ratio of 18.87 and a beta of 1.22. The company has a 50-day moving average price of $38.65 and a 200 day moving average price of $39.05.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The business had revenue of $110.30 million during the quarter, compared to the consensus estimate of $112.27 million. During the same period in the previous year, the business posted $0.44 EPS. Analysts forecast that Columbia Banking System, Inc. will post $2.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.88 annualized dividend and a yield of 2.37%. Columbia Banking System’s payout ratio is 44.67%.

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Several brokerages recently issued reports on COLB. Royal Bank Of Canada reissued a “hold” rating and issued a $42.00 price objective on shares of Columbia Banking System in a research note on Friday, July 28th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price objective on shares of Columbia Banking System in a research note on Friday, June 16th. Finally, Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $43.00 to $46.00 in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.40.

In related news, CFO Clint Stein sold 8,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $40.09, for a total value of $320,720.00. Following the transaction, the chief financial officer now owns 22,877 shares of the company’s stock, valued at approximately $917,138.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.23% of the stock is currently owned by company insiders.

Columbia Banking System Company Profile

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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

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