Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,079 shares of the financial services provider's stock after buying an additional 32,438 shares during the quarter. Federated Hermes Inc. owned 0.07% of Columbia Banking System worth $3,838,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Columbia Banking System during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in Columbia Banking System in the fourth quarter valued at about $32,000. Meeder Asset Management Inc. acquired a new stake in Columbia Banking System in the 4th quarter worth approximately $42,000. Smartleaf Asset Management LLC lifted its stake in shares of Columbia Banking System by 62.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock worth $55,000 after buying an additional 780 shares during the period. Finally, Principal Securities Inc. grew its stake in Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 1,343 shares during the last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Trading Up 2.3 %

NASDAQ COLB traded up $0.50 during trading hours on Tuesday, reaching $21.92. The company had a trading volume of 1,210,448 shares, compared to its average volume of 1,781,799. The stock has a 50-day moving average of $24.85 and a 200 day moving average of $27.18. The stock has a market capitalization of $4.61 billion, a P/E ratio of 8.63 and a beta of 0.53. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

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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 (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, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System's payout ratio is currently 56.69%.

Insider Buying and Selling at Columbia Banking System

In other news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction 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 sale, the vice president now directly owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COLB has been the topic of several recent research reports. UBS Group initiated coverage on shares of Columbia Banking System in a report on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price objective on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. cut their target price 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. Stephens dropped their price target on 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. Finally, Barclays cut their price objective on shares of Columbia Banking System from $33.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $30.00.

About Columbia Banking System

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.