KLP Kapitalforvaltning AS Takes Position in Columbia Banking System, Inc. (NASDAQ:COLB)

KLP Kapitalforvaltning AS purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 42,919 shares of the financial services provider's stock, valued at approximately $1,159,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sei Investments Co. increased its holdings in shares of Columbia Banking System by 9.4% in the 4th quarter. Sei Investments Co. now owns 1,089,480 shares of the financial services provider's stock worth $29,427,000 after buying an additional 93,509 shares during the last quarter. American Century Companies Inc. raised its position in Columbia Banking System by 0.8% during the fourth quarter. American Century Companies Inc. now owns 7,602,571 shares of the financial services provider's stock valued at $205,345,000 after purchasing an additional 61,242 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Columbia Banking System in the 4th quarter worth about $474,000. Quantbot Technologies LP bought a new position in shares of Columbia Banking System during the 4th quarter valued at about $1,707,000. Finally, TD Private Client Wealth LLC grew its position in Columbia Banking System by 36.1% during the fourth quarter. TD Private Client Wealth LLC now owns 8,430 shares of the financial services provider's stock valued at $228,000 after acquiring an additional 2,235 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods decreased their price target on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company raised shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Citigroup lowered their price target on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Stephens cut their target price on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group assumed coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $31.25.

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Insider Activity at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now directly owns 104,869 shares in the company, valued at $2,725,545.31. The trade was a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by insiders.

Columbia Banking System Stock Down 13.1 %

Shares of NASDAQ COLB traded down $3.30 on Thursday, reaching $21.82. 3,080,366 shares of the company's stock traded hands, compared to its average volume of 1,774,499. The business's 50 day simple moving average is $26.20 and its two-hundred day simple moving average is $27.48. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 8.59 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. Analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System's payout ratio is 56.69%.

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.