Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Signaturefd LLC

Signaturefd LLC reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,906 shares of the financial services provider’s stock after selling 830 shares during the period. Signaturefd LLC’s holdings in Columbia Banking System were worth $104,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Columbia Banking System by 1,506.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,326 shares in the last quarter. First Pacific Financial acquired a new position in shares of Columbia Banking System during the fourth quarter worth $40,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Columbia Banking System in the third quarter valued at $78,000. NBC Securities Inc. acquired a new stake in Columbia Banking System during the 3rd quarter valued at $137,000. Finally, Lecap Asset Management Ltd. purchased a new stake in Columbia Banking System during the 4th quarter worth $230,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Trading Down 0.8 %

NASDAQ:COLB opened at $18.97 on Tuesday. The stock has a 50 day moving average of $18.52 and a 200-day moving average of $21.15. The firm has a market capitalization of $3.97 billion, a PE ratio of 8.14 and a beta of 0.71. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $28.11.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. As a group, analysts predict that Columbia Banking System, Inc. will post 2.25 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s payout ratio is 61.80%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, April 5th. Raymond James downgraded Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 price objective on the stock. in a report on Thursday, January 25th. Royal Bank of Canada reduced their target price on Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 9th. UBS Group dropped their price target on shares of Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating for the company in a research note on Friday, January 26th. Finally, Stephens downgraded shares of Columbia Banking System from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $31.00 to $24.00 in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.19.

Insiders Place Their Bets

In other Columbia Banking System news, Director Luis Machuca purchased 4,889 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were bought at an average price of $20.58 per share, with a total value of $100,615.62. Following the completion of the acquisition, the director now owns 60,835 shares in the company, valued at approximately $1,251,984.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Columbia Banking System news, Director Luis Machuca bought 4,889 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were purchased at an average price of $20.58 per share, with a total value of $100,615.62. Following the purchase, the director now directly owns 60,835 shares of the company’s stock, valued at $1,251,984.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Whitehead Seaton purchased 2,685 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $18.48 per share, with a total value of $49,618.80. Following the purchase, the director now owns 25,001 shares of the company’s stock, valued at approximately $462,018.48. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 9,574 shares of company stock worth $188,874. Insiders own 0.59% of the company’s stock.

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.