Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,763 shares of the financial services provider’s stock after buying an additional 10,720 shares during the period. Nisa Investment Advisors LLC’s holdings in Columbia Banking System were worth $1,568,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COLB. Macquarie Group Ltd. boosted its holdings in shares of Columbia Banking System by 3,669.2% in the 1st quarter. Macquarie Group Ltd. now owns 8,094,950 shares of the financial services provider’s stock valued at $173,405,000 after buying an additional 7,880,183 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Columbia Banking System by 65.9% in the 1st quarter. BlackRock Inc. now owns 18,791,230 shares of the financial services provider’s stock valued at $402,508,000 after buying an additional 7,465,846 shares in the last quarter. State Street Corp boosted its holdings in shares of Columbia Banking System by 91.2% in the 1st quarter. State Street Corp now owns 9,102,942 shares of the financial services provider’s stock valued at $194,985,000 after buying an additional 4,342,755 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Columbia Banking System during the 1st quarter worth $90,775,000. Finally, Wellington Management Group LLP acquired a new stake in Columbia Banking System during the 3rd quarter worth $80,011,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Down 1.5 %

Shares of COLB opened at $17.65 on Monday. The company has a 50-day simple moving average of $18.59 and a 200-day simple moving average of $21.25. The company has a market capitalization of $3.69 billion, a PE ratio of 10.70 and a beta of 0.71. Columbia Banking System, Inc. has a 52-week low of $17.18 and a 52-week high of $28.11.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.35). The company had revenue of $519.16 million during the quarter, compared to analysts’ expectations of $525.94 million. Columbia Banking System had a net margin of 12.71% and a return on equity of 10.27%. The business’s revenue for the quarter was up 52.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, research analysts anticipate that Columbia Banking System, Inc. will post 2.25 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were issued a $0.36 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.16%. Columbia Banking System’s dividend payout ratio is presently 87.27%.

Insider Activity

In related news, Director John F. Schultz purchased 8,559 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $20.39 per share, for a total transaction of $174,518.01. Following the acquisition, the director now directly owns 41,870 shares of the company’s stock, valued at approximately $853,729.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Columbia Banking System news, CFO Ron L. Farnsworth bought 2,500 shares of the company’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $20.71 per share, for a total transaction of $51,775.00. Following the acquisition, the chief financial officer now owns 160,073 shares of the company’s stock, valued at approximately $3,315,111.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John F. Schultz bought 8,559 shares of the company’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $20.39 per share, with a total value of $174,518.01. Following the completion of the acquisition, the director now directly owns 41,870 shares in the company, valued at approximately $853,729.30. The disclosure for this purchase can be found here. Insiders purchased 35,133 shares of company stock worth $719,737 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COLB. Citigroup decreased their price target on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price target on shares of 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. Royal Bank of Canada decreased their price target on shares of 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. Finally, Piper Sandler decreased their price target on shares of Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.42.

Columbia Banking System 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.