Mengis Capital Management Inc. decreased its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,990 shares of the financial services provider’s stock after selling 674 shares during the period. Mengis Capital Management Inc.’s holdings in Columbia Banking System were worth $542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in COLB. Advisor Group Inc. boosted its holdings 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 valued at $132,000 after purchasing an additional 307 shares during the period. Toronto Dominion Bank boosted its holdings 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 valued at $33,000 after purchasing an additional 329 shares during the period. Nisa Investment Advisors LLC boosted its holdings 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 valued at $1,147,000 after purchasing an additional 500 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings 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 valued at $1,045,000 after purchasing an additional 500 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Columbia Banking System by 51.4% in the 1st quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 572 shares during the period. Institutional investors own 89.88% of the company’s stock.

A number of analysts have weighed in on COLB shares. BidaskClub downgraded shares of Zebra Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Zacks Investment Research cut shares of Eisai from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada set a $179.00 price objective on shares of 3M and gave the company a “hold” rating in a research note on Friday. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $41.71.

Shares of COLB stock opened at $36.83 on Tuesday. Columbia Banking System Inc has a 52-week low of $30.65 and a 52-week high of $43.60. The firm has a market cap of $2.75 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 2.09 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $35.88.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Tuesday, August 6th. Columbia Banking System’s dividend payout ratio is 45.34%.

In other news, EVP Andy Mcdonald sold 3,481 shares of the stock in a transaction on Tuesday, June 11th. The shares were 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 approximately $1,271,415.84. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.92% of the company’s stock.

Columbia Banking System Company Profile

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.

Further Reading: Cost of Equity For A Business, Investors

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

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