Quantbot Technologies LP Invests $1.71 Million in Columbia Banking System, Inc. (NASDAQ:COLB)

Quantbot Technologies LP bought a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 63,206 shares of the financial services provider’s stock, valued at approximately $1,707,000.

Several other large investors have also recently added to or reduced their stakes in COLB. Tidal Investments LLC increased its holdings in shares of Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 464 shares during the last quarter. Arizona State Retirement System grew its position in Columbia Banking System by 0.8% during 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 acquiring an additional 469 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Columbia Banking System by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock valued at $1,025,000 after acquiring an additional 544 shares during the period. Pacer Advisors Inc. increased its stake in Columbia Banking System by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 612 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Columbia Banking System by 1.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 621 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on COLB. Keefe, Bruyette & Woods dropped their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, January 24th. Barclays increased their price objective on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. UBS Group started coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.25.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the firm’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 transaction, the vice president now owns 104,869 shares of the company’s stock, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

Columbia Banking System Stock Up 3.8 %

Shares of COLB opened at $25.67 on Tuesday. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 10.11 and a beta of 0.62. The business’s 50 day moving average is $26.79 and its two-hundred day moving average is $27.48. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. On average, equities analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a yield of 5.61%. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

About Columbia Banking System

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.