Peregrine Asset Advisers Inc. Sells 1,000 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Peregrine Asset Advisers Inc. cut its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,409 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Columbia Banking System were worth $251,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Columbia Banking System by 1,506.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,326 shares during the period. First Pacific Financial acquired a new position in shares of Columbia Banking System in the fourth quarter valued at about $40,000. Headlands Technologies LLC acquired a new position in shares of Columbia Banking System in the fourth quarter valued at about $42,000. GAMMA Investing LLC acquired a new position in shares of Columbia Banking System in the fourth quarter valued at about $48,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Columbia Banking System in the third quarter valued at about $78,000. 92.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

COLB has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, April 4th. Barclays upped their price target on shares of Columbia Banking System from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Truist Financial decreased their price target on shares of Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. StockNews.com downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Finally, TheStreet downgraded shares of Columbia Banking System from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and an average target price of $22.19.

Columbia Banking System Stock Performance

Shares of COLB traded up $0.20 during mid-day trading on Monday, reaching $20.37. The company had a trading volume of 2,064,694 shares, compared to its average volume of 2,871,569. The company’s 50 day simple moving average is $18.62 and its 200 day simple moving average is $21.14. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 8.74 and a beta of 0.69.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $473.72 million during the quarter, compared to analyst estimates of $480.39 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. As a group, equities analysts forecast that Columbia Banking System, Inc. will post 2.37 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 23rd were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 7.07%. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, Director Elizabeth Whitehead Seaton acquired 2,685 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $18.48 per share, for a total transaction of $49,618.80. Following the acquisition, the director now directly owns 25,001 shares in the company, valued at $462,018.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.59% of the stock is owned by company insiders.

Columbia Banking System Company Profile

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.