8,748 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,748 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of Columbia Banking System during the third quarter worth $80,011,000. Kennedy Capital Management LLC increased its position in shares of Columbia Banking System by 1,633.4% during the third quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock worth $25,936,000 after buying an additional 1,203,933 shares during the period. American Century Companies Inc. increased its position in shares of Columbia Banking System by 32.5% during the third quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock worth $79,980,000 after buying an additional 967,009 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Columbia Banking System by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,020,138 shares of the financial services provider’s stock worth $41,009,000 after buying an additional 243,841 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter worth $59,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Columbia Banking System stock traded up $0.27 during mid-day trading on Monday, hitting $20.44. 635,905 shares of the company traded hands, compared to its average volume of 2,854,452. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 8.66 and a beta of 0.69. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $28.11. The stock has a fifty day moving average price of $18.62 and a 200-day moving average price of $21.14.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm had revenue of $473.72 million during the quarter, compared to analyst estimates of $480.39 million. During the same period in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that Columbia Banking System, Inc. will post 2.37 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 23rd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 7.05%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s payout ratio is 61.80%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COLB shares. DA Davidson dropped their price target on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Citigroup decreased their price objective on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Wells Fargo & Company decreased their price objective on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, April 5th. Finally, Piper Sandler decreased their price objective on shares of Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. One 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’s stock. Based on data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average target price of $22.19.

Insider Buying and Selling

In related news, Director Elizabeth Whitehead Seaton acquired 2,685 shares of Columbia Banking System stock in a transaction on Tuesday, February 6th. The shares were acquired at an average cost of $18.48 per share, with a total value of $49,618.80. Following the transaction, the director now owns 25,001 shares in the company, valued at $462,018.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.59% of the stock is 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.