Inceptionr LLC bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,499 shares of the financial services provider's stock, valued at approximately $419,000.
Other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at $22,476,000. Arizona State Retirement System lifted its holdings in Columbia Banking System by 0.8% during the 4th quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock valued at $1,641,000 after purchasing an additional 469 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Columbia Banking System during the fourth quarter worth about $296,000. M&T Bank Corp increased its holdings in shares of Columbia Banking System by 10.5% during the fourth quarter. M&T Bank Corp now owns 13,106 shares of the financial services provider's stock worth $354,000 after buying an additional 1,247 shares in the last quarter. Finally, Keybank National Association OH acquired a new stake in shares of Columbia Banking System during the fourth quarter worth approximately $242,000. Institutional investors and hedge funds own 92.53% of the company's stock.
Insider Activity 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 stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now directly owns 104,869 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by company insiders.
Columbia Banking System Stock Up 0.6 %
Shares of NASDAQ:COLB traded up $0.15 during mid-day trading on Wednesday, reaching $24.04. 1,417,294 shares of the stock were exchanged, compared to its average volume of 1,485,265. The stock's 50 day simple moving average is $27.20 and its 200-day simple moving average is $27.49. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The company has a market cap of $5.04 billion, a P/E ratio of 9.46 and a beta of 0.62.
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 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%. Analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.
Columbia Banking System Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System's payout ratio is 56.69%.
Analyst Ratings Changes
A number of research firms recently commented on COLB. Wells Fargo & Company upgraded Columbia Banking System from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods decreased their target price 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. Barclays raised their target price 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. Stephens reduced their price target on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Ten equities 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, Columbia Banking System presently has an average rating of "Hold" and a consensus target price of $30.38.
Get Our Latest Stock Analysis on COLB
About Columbia Banking System
(
Free Report)
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.
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