Columbia Banking System, Inc. (NASDAQ:COLB) Shares Acquired by Mariner LLC

Mariner LLC grew its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 17.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,221 shares of the financial services provider’s stock after acquiring an additional 3,950 shares during the quarter. Mariner LLC’s holdings in Columbia Banking System were worth $735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tidal Investments LLC increased its position 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 valued at $1,128,000 after acquiring an additional 464 shares during the period. Arizona State Retirement System boosted its position in Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock valued at $1,641,000 after buying an additional 469 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 worth $1,025,000 after buying an additional 544 shares during the period. Treasurer of the State of North Carolina raised its position in Columbia Banking System by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock worth $2,476,000 after buying an additional 580 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 612 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Up 0.4 %

NASDAQ:COLB opened at $22.72 on Wednesday. The company has a market capitalization of $4.77 billion, a P/E ratio of 8.94 and a beta of 0.53. Columbia Banking System, Inc. has a 52 week low of $18.11 and a 52 week high of $32.85. The stock’s fifty day moving average is $23.87 and its two-hundred day moving average is $26.96.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. The business had revenue of $481.92 million during the quarter, compared to analysts’ expectations of $482.86 million. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 6.34%. Columbia Banking System’s dividend payout ratio is currently 61.02%.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the business’s stock in a transaction dated 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 $2,725,545.31. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

COLB has been the subject of a number of research reports. DA Davidson set a $25.00 target price on shares of Columbia Banking System and gave the company a “neutral” rating in a research report on Thursday, April 24th. Royal Bank of Canada dropped their target price on Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Citigroup lowered their price objective on 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. Barclays lifted their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $29.85.

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.