Nisa Investment Advisors LLC Boosts Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Nisa Investment Advisors LLC lifted its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,763 shares of the financial services provider’s stock after purchasing an additional 10,720 shares during the period. Nisa Investment Advisors LLC’s holdings in Columbia Banking System were worth $1,568,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COLB. Macquarie Group Ltd. boosted its holdings in shares of Columbia Banking System by 3,669.2% during the first quarter. Macquarie Group Ltd. now owns 8,094,950 shares of the financial services provider’s stock worth $173,405,000 after purchasing an additional 7,880,183 shares during the period. BlackRock Inc. boosted its holdings in shares of Columbia Banking System by 65.9% during the first quarter. BlackRock Inc. now owns 18,791,230 shares of the financial services provider’s stock worth $402,508,000 after purchasing an additional 7,465,846 shares during the period. State Street Corp lifted its holdings in Columbia Banking System by 91.2% in the first quarter. State Street Corp now owns 9,102,942 shares of the financial services provider’s stock worth $194,985,000 after buying an additional 4,342,755 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Columbia Banking System in the first quarter worth about $90,775,000. Finally, Wellington Management Group LLP purchased a new stake in Columbia Banking System in the third quarter worth about $80,011,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. DA Davidson lowered 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. Raymond James lowered shares of Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 price objective for the company. in a report on Thursday, January 25th. 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. 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. Finally, Barclays initiated coverage on shares of Columbia Banking System in a report on Friday, March 8th. They issued an “equal weight” rating and a $20.00 price objective for the company. One investment 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.com, the stock has an average rating of “Hold” and a consensus price target of $22.42.

Columbia Banking System Trading Down 1.5 %

Shares of COLB opened at $17.65 on Monday. The firm has a market cap of $3.69 billion, a PE ratio of 10.70 and a beta of 0.71. The firm has a fifty day simple moving average of $18.59 and a two-hundred day simple moving average of $21.25. Columbia Banking System, Inc. has a 1-year low of $17.18 and a 1-year high of $28.11.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.35). The company had revenue of $519.16 million for the quarter, compared to analysts’ expectations of $525.94 million. Columbia Banking System had a net margin of 12.71% and a return on equity of 10.27%. Columbia Banking System’s quarterly revenue was up 52.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.25 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were paid a $0.36 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.44 annualized dividend and a dividend yield of 8.16%. Columbia Banking System’s dividend payout ratio (DPR) is 87.27%.

Insider Transactions at Columbia Banking System

In related news, CEO Clint Stein acquired 9,500 shares of Columbia Banking System stock in a transaction dated Tuesday, January 30th. The stock was purchased at an average cost of $20.96 per share, for a total transaction of $199,120.00. Following the purchase, the chief executive officer now directly owns 165,684 shares of the company’s stock, valued at approximately $3,472,736.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Clint Stein acquired 9,500 shares of Columbia Banking System stock in a transaction dated Tuesday, January 30th. The stock was purchased at an average cost of $20.96 per share, for a total transaction of $199,120.00. Following the purchase, the chief executive officer now directly owns 165,684 shares of the company’s stock, valued at approximately $3,472,736.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ron L. Farnsworth acquired 2,500 shares of Columbia Banking System stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $20.71 per share, with a total value of $51,775.00. Following the completion of the purchase, the chief financial officer now directly owns 160,073 shares in the company, valued at $3,315,111.83. The disclosure for this purchase can be found here. Insiders purchased 35,133 shares of company stock worth $719,737 in the last three months. Corporate insiders own 0.62% of the company’s stock.

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.