Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can lifted its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,545 shares of the financial services provider’s stock after purchasing an additional 2,565 shares during the period. Bank of Montreal Can’s holdings in Columbia Banking System were worth $1,149,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of COLB. Aster Capital Management DIFC Ltd purchased a new position in Columbia Banking System during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Columbia Banking System during the 4th quarter valued at about $32,000. Meeder Asset Management Inc. bought a new stake in Columbia Banking System in the fourth quarter worth approximately $42,000. Smartleaf Asset Management LLC boosted its holdings in Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 780 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,343 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of COLB opened at $22.18 on Friday. The company has a market capitalization of $4.66 billion, a P/E ratio of 8.73 and a beta of 0.53. Columbia Banking System, Inc. has a one year low of $17.61 and a one year high of $32.85. The business’s 50 day simple moving average is $24.51 and its 200-day simple moving average is $27.09.

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

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.36 dividend. 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 6.49%. Columbia Banking System’s payout ratio is 56.69%.

Insider Activity at Columbia Banking System

In other news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COLB. Citigroup decreased their price target on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Wells Fargo & Company decreased their price objective on Columbia Banking System from $35.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Stephens dropped their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus price target of $30.00.

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.