Columbia Banking System, Inc. (NASDAQ:COLB) Stock Position Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,050 shares of the financial services provider’s stock after selling 18,335 shares during the quarter. New York State Common Retirement Fund’s holdings in Columbia Banking System were worth $4,083,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Stephens Consulting LLC bought a new position in Columbia Banking System during the fourth quarter valued at about $150,000. Federated Hermes Inc. boosted its stake in Columbia Banking System by 19.0% during the fourth quarter. Federated Hermes Inc. now owns 190,416 shares of the financial services provider’s stock valued at $5,080,000 after buying an additional 30,464 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Columbia Banking System by 4.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,395 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 2,129 shares in the last quarter. Sippican Capital Advisors bought a new position in Columbia Banking System during the fourth quarter valued at about $822,000. Finally, Mackenzie Financial Corp bought a new position in Columbia Banking System during the fourth quarter valued at about $482,000. Institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COLB shares. JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. TheStreet downgraded Columbia Banking System from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Raymond James downgraded Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 target price for the company. in a report on Thursday, January 25th. Finally, Truist Financial reduced their target price on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.19.

Columbia Banking System Price Performance

Shares of COLB stock opened at $20.17 on Monday. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The stock’s 50-day moving average is $18.62 and its two-hundred day moving average is $21.14. The firm has a market cap of $4.22 billion, a P/E ratio of 8.66 and a beta of 0.69.

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, beating analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $473.72 million for the quarter, compared to analyst estimates 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 for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. As a group, research analysts expect that Columbia Banking System, Inc. will post 2.37 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend was Thursday, February 22nd. Columbia Banking System’s dividend payout ratio is 61.80%.

Insider Activity

In other Columbia Banking System news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the stock in a transaction on Tuesday, February 6th. The shares were purchased at an average price of $18.48 per share, with a total value of $49,618.80. Following the acquisition, the director now directly owns 25,001 shares of the company’s stock, valued at approximately $462,018.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.62% of the stock is currently owned by insiders.

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.