Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,571,424 shares of the financial services provider’s stock after selling 356,750 shares during the quarter. Fisher Asset Management LLC owned 0.75% of Columbia Banking System worth $41,926,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Keeley Teton Advisors LLC increased its position in shares of Columbia Banking System by 11.0% in the third quarter. Keeley Teton Advisors LLC now owns 405,480 shares of the financial services provider’s stock worth $8,231,000 after acquiring an additional 40,215 shares in the last quarter. Kennedy Capital Management LLC grew its position in Columbia Banking System by 1,633.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock worth $25,936,000 after purchasing an additional 1,203,933 shares in the last quarter. American Century Companies Inc. raised its stake in Columbia Banking System by 32.5% during the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock valued at $79,980,000 after purchasing an additional 967,009 shares during the period. First Hawaiian Bank lifted its holdings in shares of Columbia Banking System by 12.3% in the fourth quarter. First Hawaiian Bank now owns 20,062 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Columbia Banking System by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 146,066 shares of the financial services provider’s stock worth $3,910,000 after buying an additional 25,771 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Columbia Banking System

In other news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $18.48 per share, for a total transaction of $49,618.80. Following the purchase, the director now owns 25,001 shares of the company’s stock, valued at approximately $462,018.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial dropped their price target on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. UBS Group reduced their price target on shares of Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating for the company in a research report on Friday, January 26th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Columbia Banking System in a research report on Friday, April 26th. Stephens downgraded shares of Columbia Banking System from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $31.00 to $24.00 in a research report on Thursday, January 25th. Finally, Raymond James lowered shares of Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 target price for the company. in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.19.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $20.17 on Friday. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $28.11. The company’s fifty day moving average price is $18.62 and its two-hundred day moving average price is $21.13. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 8.66 and a beta of 0.69.

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

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend was Thursday, February 22nd. Columbia Banking System’s dividend payout ratio is 61.80%.

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.