Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC boosted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 474,662 shares of the financial services provider's stock after acquiring an additional 30,500 shares during the period. Ceredex Value Advisors LLC owned 0.23% of Columbia Banking System worth $12,821,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in COLB. Norges Bank acquired a new position in Columbia Banking System during the 4th quarter worth about $65,249,000. JPMorgan Chase & Co. increased its stake in Columbia Banking System by 158.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,851,217 shares of the financial services provider's stock worth $50,001,000 after buying an additional 1,134,544 shares during the period. Raymond James Financial Inc. acquired a new stake in Columbia Banking System during the 4th quarter worth approximately $22,476,000. Boston Partners grew its stake in shares of Columbia Banking System by 38.0% in the fourth quarter. Boston Partners now owns 1,271,289 shares of the financial services provider's stock worth $34,662,000 after acquiring an additional 350,229 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Columbia Banking System by 9.3% during the fourth quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider's stock worth $66,363,000 after acquiring an additional 209,774 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Up 1.0 %

Shares of COLB traded up $0.23 during trading hours on Friday, reaching $22.18. 992,306 shares of the company traded hands, compared to its average volume of 1,775,045. The stock has a fifty day simple moving average of $24.51 and a 200 day simple moving average of $27.11. Columbia Banking System, Inc. has a fifty-two week low of $18.11 and a fifty-two week high of $32.85. The stock has a market capitalization of $4.66 billion, a PE ratio of 8.73 and a beta of 0.53.

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 net margin of 17.99% and a return on equity of 11.21%. Research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 56.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COLB shares. Barclays decreased their price objective on Columbia Banking System from $33.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Stephens cut their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Citigroup cut their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a research report on Friday, January 24th. Finally, Wells Fargo & Company decreased their target price on shares of Columbia Banking System from $35.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.00.

Insider Activity

In related news, VP Torran B. Nixon sold 4,481 shares of the company'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 transaction of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.68% of the company's stock.

Columbia Banking System 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.