Columbia Banking System, Inc. (NASDAQ:COLB) Sees Large Growth in Short Interest

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 7,240,000 shares, a growth of 34.1% from the February 13th total of 5,400,000 shares. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is presently 4.8 days. Currently, 3.5% of the company's stock are sold short.

Columbia Banking System Stock Down 1.4 %

Shares of COLB traded down $0.35 during midday trading on Thursday, reaching $24.62. 1,255,522 shares of the stock were exchanged, compared to its average volume of 1,763,861. The stock's 50 day simple moving average is $26.89 and its 200 day simple moving average is $27.45. The company has a market cap of $5.16 billion, a P/E ratio of 9.69 and a beta of 0.62. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping 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%. As a group, analysts predict that Columbia Banking System will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 56.69%.

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Insider Activity

In other news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Columbia Banking System

A number of hedge funds have recently added to or reduced their stakes in COLB. Aster Capital Management DIFC Ltd acquired a new stake in shares of Columbia Banking System during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Columbia Banking System during the fourth quarter worth about $32,000. Meeder Asset Management Inc. bought a new position in Columbia Banking System in the 4th quarter valued at about $42,000. Kapitalo Investimentos Ltda bought a new position in Columbia Banking System in the 4th quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Columbia Banking System by 62.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock worth $55,000 after acquiring an additional 780 shares during the period. Institutional investors own 92.53% of the company's stock.

Analysts Set New Price Targets

COLB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of 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. UBS Group initiated coverage on Columbia Banking System in a report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price target for the company. Wells Fargo & Company raised Columbia Banking System from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Citigroup cut their price objective on 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. Finally, Barclays increased their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average price target of $31.25.

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.