Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 158.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,851,217 shares of the financial services provider's stock after acquiring an additional 1,134,544 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.88% of Columbia Banking System worth $50,001,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC grew its position in Columbia Banking System by 1.1% in the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 464 shares during the period. Arizona State Retirement System grew its holdings in shares of Columbia Banking System by 0.8% during the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock worth $1,641,000 after purchasing an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Columbia Banking System by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock worth $1,025,000 after purchasing an additional 544 shares in the last quarter. Pacer Advisors Inc. lifted its position in Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock worth $844,000 after buying an additional 612 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Columbia Banking System by 1.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider's stock worth $1,342,000 after buying an additional 621 shares during the last quarter. Institutional investors own 92.53% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the 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 transaction, the vice president now owns 104,869 shares of the company's stock, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stephens decreased their price objective on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Citigroup lowered their price target on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Barclays reduced their price objective on Columbia Banking System from $33.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Wells Fargo & Company reduced their price objective on Columbia Banking System from $35.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods cut their target price on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a research report on Friday, January 24th. Nine 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 company has an average rating of "Hold" and a consensus price target of $30.00.

Columbia Banking System Trading Down 4.7 %

Shares of Columbia Banking System stock traded down $1.05 on Thursday, reaching $21.16. 182,351 shares of the stock were exchanged, compared to its average volume of 1,552,512. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85. The business has a fifty day moving average price of $25.40 and a two-hundred day moving average price of $27.31. The firm has a market capitalization of $4.45 billion, a PE ratio of 8.33 and a beta of 0.53.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System's payout ratio is 56.69%.

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.