ProShare Advisors LLC reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,406 shares of the financial services provider's stock after selling 2,139 shares during the period. ProShare Advisors LLC's holdings in Columbia Banking System were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at $28,000. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System during the 1st quarter worth about $41,000. Pinebridge Investments L.P. acquired a new stake in Columbia Banking System in the 4th quarter valued at about $69,000. Howe & Rusling Inc. acquired a new stake in Columbia Banking System in the 1st quarter valued at about $88,000. Finally, FourThought Financial LLC boosted its stake in shares of Columbia Banking System by 29.6% in the 1st quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider's stock valued at $118,000 after buying an additional 839 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $29.95 on Thursday. Columbia Banking System, Inc. has a 1 year low of $26.97 and a 1 year high of $40.78. The stock has a market cap of $2.36 billion, a P/E ratio of 10.77 and a beta of 0.67. The stock has a 50-day simple moving average of $30.07 and a 200-day simple moving average of $31.00.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 4.01%. Columbia Banking System's dividend payout ratio (DPR) is presently 43.17%.

Insider Buying and Selling at Columbia Banking System

In other news, Director Craig D. Eerkes bought 1,694 shares of Columbia Banking System stock in a transaction dated Friday, June 10th. The stock was acquired at an average cost of $28.52 per share, with a total value of $48,312.88. Following the acquisition, the director now owns 20,227 shares of the company's stock, valued at $576,874.04. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased 2,713 shares of company stock worth $74,593 over the last 90 days. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James reduced their target price on shares of Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating on the stock in a report on Thursday, July 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $34.80.

Columbia Banking System 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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