Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,212,077 shares of the financial services provider's stock after selling 28,167 shares during the period. Massachusetts Financial Services Co. MA owned about 2.96% of Columbia Banking System worth $167,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Columbia Banking System in the 4th quarter worth about $32,000. Meeder Asset Management Inc. purchased a new position in shares of Columbia Banking System during the fourth quarter worth approximately $42,000. Smartleaf Asset Management LLC boosted its holdings in shares of Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 780 shares during the period. Principal Securities Inc. grew its stake in Columbia Banking System by 171.3% in the fourth quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Columbia Banking System by 36.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider's stock worth $80,000 after purchasing an additional 801 shares during the period. 92.53% of the stock is currently owned by institutional investors.

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Columbia Banking System Price Performance

COLB traded up $1.43 during trading hours on Wednesday, reaching $22.21. The company's stock had a trading volume of 4,009,585 shares, compared to its average volume of 1,791,438. The stock has a market cap of $4.67 billion, a PE ratio of 8.74 and a beta of 0.53. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The business's 50-day moving average is $25.40 and its 200-day moving average is $27.31.

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 for the quarter, topping 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 expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 6.48%. Columbia Banking System's dividend payout ratio (DPR) is 56.69%.

Insider Buying and Selling

In other news, VP Torran B. Nixon sold 4,481 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the sale, the vice president now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COLB. Wells Fargo & Company decreased their price objective on Columbia Banking System from $35.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered 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 report on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price objective on shares of 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. Citigroup lowered their target price on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Stephens reduced 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. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $30.00.

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.