Russell Investments Group Ltd. Acquires 20,618 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Russell Investments Group Ltd. raised its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,019 shares of the financial services provider's stock after buying an additional 20,618 shares during the period. Russell Investments Group Ltd. owned 0.13% of Columbia Banking System worth $7,104,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of 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 worth $1,128,000 after acquiring an additional 464 shares in the last quarter. Arizona State Retirement System increased 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Columbia Banking System by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock valued at $1,025,000 after purchasing an additional 544 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Columbia Banking System by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock worth $844,000 after purchasing an additional 612 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Columbia Banking System by 1.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider's stock worth $1,342,000 after purchasing an additional 621 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several brokerages recently issued reports on COLB. Wells Fargo & Company reduced their price target on shares of Columbia Banking System from $35.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Citigroup reduced their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. 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 report on Tuesday, January 7th. 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 report on Tuesday, April 8th. Finally, Stephens lowered their target price on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $30.00.

Insiders Place Their Bets

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 shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the sale, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company's stock.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock traded up $0.50 during trading on Tuesday, hitting $21.92. 1,210,448 shares of the company were exchanged, compared to its average volume of 1,781,799. The firm has a market capitalization of $4.61 billion, a P/E ratio of 8.63 and a beta of 0.53. The firm's fifty day moving average price is $24.85 and its 200 day moving average price is $27.18. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $32.85.

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

Columbia Banking System Dividend Announcement

The firm 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 yield of 6.57%. The ex-dividend date was Friday, February 28th. Columbia Banking System's payout ratio is presently 56.69%.

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.