Fisher Asset Management LLC Has $48.27 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Fisher Asset Management LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,787,006 shares of the financial services provider's stock after buying an additional 172,066 shares during the quarter. Fisher Asset Management LLC owned 0.85% of Columbia Banking System worth $48,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in Columbia Banking System by 9.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,712 shares of the financial services provider's stock valued at $1,011,000 after acquiring an additional 3,300 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Columbia Banking System by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,177 shares of the financial services provider's stock worth $631,000 after buying an additional 1,650 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Columbia Banking System by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 49,063 shares of the financial services provider's stock valued at $1,281,000 after buying an additional 1,110 shares during the period. New York State Teachers Retirement System grew its stake in Columbia Banking System by 1.5% in the third quarter. New York State Teachers Retirement System now owns 288,387 shares of the financial services provider's stock valued at $7,530,000 after purchasing an additional 4,123 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Columbia Banking System by 7.2% in the third quarter. US Bancorp DE now owns 69,805 shares of the financial services provider's stock worth $1,823,000 after buying an additional 4,675 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms have commented on COLB. Stephens decreased their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods reduced their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, January 24th. Finally, UBS Group assumed coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.38.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the firm'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 transaction, the vice president now directly owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company's stock.

Columbia Banking System Trading Down 1.6 %

Shares of COLB traded down $0.41 during mid-day trading on Thursday, hitting $24.84. 907,283 shares of the company traded hands, compared to its average volume of 1,415,212. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 9.78 and a beta of 0.62. The business has a 50-day moving average of $27.45 and a 200 day moving average of $27.46. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 5.80%. Columbia Banking System's dividend payout ratio is currently 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.