Neuberger Berman Group LLC Has $73.85 Million Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Neuberger Berman Group LLC reduced its position in Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 14.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,288,605 shares of the financial services provider’s stock after selling 396,519 shares during the quarter. Neuberger Berman Group LLC’s holdings in Columbia Banking System were worth $73,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Columbia Banking System by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,297 shares of the financial services provider’s stock worth $23,438,000 after purchasing an additional 33,160 shares during the period. Landscape Capital Management L.L.C. bought a new position in Columbia Banking System in the first quarter worth $1,865,000. Boston Partners lifted its position in Columbia Banking System by 0.3% in the first quarter. Boston Partners now owns 526,997 shares of the financial services provider’s stock worth $16,855,000 after purchasing an additional 1,581 shares during the period. Profund Advisors LLC lifted its holdings in shares of Columbia Banking System by 24.1% during the first quarter. Profund Advisors LLC now owns 10,802 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 2,099 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Columbia Banking System during the first quarter valued at $338,000. 94.45% of the stock is owned by institutional investors.

Columbia Banking System Stock Down 2.0 %

Columbia Banking System stock opened at $30.11 on Friday. The stock has a 50-day simple moving average of $30.27 and a 200 day simple moving average of $30.49. Columbia Banking System, Inc. has a 12-month low of $26.97 and a 12-month high of $40.78. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 10.83 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLBGet Rating) last released its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.8 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.99%. Columbia Banking System’s dividend payout ratio is 43.17%.

Wall Street Analyst Weigh In

Separately, Raymond James cut their price objective on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, July 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and an average target price of $34.80.

Columbia Banking System Company Profile

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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 the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other 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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