Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC raised its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,582 shares of the financial services provider’s stock after acquiring an additional 1,612 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Columbia Banking System were worth $838,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Columbia Banking System in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $32,000. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $42,000. Kapitalo Investimentos Ltda purchased a new stake in Columbia Banking System during the fourth quarter worth approximately $42,000. Finally, Smartleaf Asset Management LLC lifted its stake in 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 purchasing an additional 780 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 104,869 shares in the company, valued at $2,725,545.31. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on COLB shares. Barclays boosted their target price on Columbia Banking System from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Raymond James set a $27.00 price target on Columbia Banking System and gave the stock an “outperform” rating in a research report on Thursday, April 24th. DA Davidson set a $25.00 price target on Columbia Banking System and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Royal Bank of Canada cut their price target on Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price target on Columbia Banking System from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $29.64.

Columbia Banking System Price Performance

Shares of COLB stock opened at $23.43 on Monday. The business’s fifty day moving average price is $23.28 and its 200 day moving average price is $26.18. Columbia Banking System, Inc. has a 1-year low of $18.20 and a 1-year high of $32.85. The firm has a market capitalization of $4.93 billion, a PE ratio of 9.22 and a beta of 0.59.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $481.92 million for the quarter, compared to the consensus estimate of $482.86 million. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. Columbia Banking System’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. Equities research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 6.15%. Columbia Banking System’s payout ratio is 61.02%.

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.