Neumeier Poma Investment Counsel LLC Reduces Holdings in Columbia Banking System, Inc. (COLB)

Neumeier Poma Investment Counsel LLC decreased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 795,040 shares of the financial services provider’s stock after selling 16,800 shares during the period. Columbia Banking System accounts for 3.7% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 8th biggest position. Neumeier Poma Investment Counsel LLC owned approximately 1.36% of Columbia Banking System worth $31,682,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its position in Columbia Banking System by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock worth $218,000 after buying an additional 46 shares in the last quarter. Amalgamated Bank increased its position in Columbia Banking System by 1.1% during the second quarter. Amalgamated Bank now owns 7,945 shares of the financial services provider’s stock worth $317,000 after buying an additional 84 shares in the last quarter. 1st Global Advisors Inc. increased its position in Columbia Banking System by 1.4% during the first quarter. 1st Global Advisors Inc. now owns 6,179 shares of the financial services provider’s stock worth $241,000 after buying an additional 85 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Columbia Banking System by 0.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock worth $517,000 after buying an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Columbia Banking System by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the financial services provider’s stock worth $948,000 after buying an additional 100 shares in the last quarter. 96.75% of the stock is owned by institutional investors.

Shares of Columbia Banking System, Inc. (NASDAQ COLB) traded up 0.03% during midday trading on Friday, hitting $37.89. The stock had a trading volume of 892,497 shares. The company’s 50-day moving average price is $37.68 and its 200-day moving average price is $38.74. Columbia Banking System, Inc. has a 12-month low of $31.75 and a 12-month high of $45.68. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 19.24 and a beta of 1.24.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $110.30 million for the quarter, compared to analyst estimates of $112.27 million. During the same period last year, the firm earned $0.44 earnings per share. Equities research analysts forecast that Columbia Banking System, Inc. will post $2.03 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.32%. The ex-dividend date was Monday, August 7th. Columbia Banking System’s dividend payout ratio (DPR) is currently 44.67%.

Several equities analysts have weighed in on COLB shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research report on Friday, June 16th. BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada reissued a “hold” rating and set a $42.00 price target on shares of Columbia Banking System in a research report on Friday, July 28th. Finally, Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $43.00 to $46.00 in a research report 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 issued a buy rating to the company. Columbia Banking System has an average rating of “Hold” and a consensus target price of $44.40.

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Columbia Banking System 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.

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

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