ProShare Advisors LLC Has $265,000 Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

ProShare Advisors LLC lifted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,803 shares of the financial services provider’s stock after purchasing an additional 671 shares during the quarter. ProShare Advisors LLC’s holdings in Columbia Banking System were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COLB. Arizona State Retirement System lifted its position in Columbia Banking System by 0.8% during the 4th quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock valued at $1,641,000 after purchasing an additional 469 shares during the period. Treasurer of the State of North Carolina raised its stake in Columbia Banking System by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock worth $2,476,000 after purchasing an additional 580 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 612 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Columbia Banking System by 62.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 780 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Columbia Banking System by 36.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 801 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on COLB shares. Royal Bank of Canada cut their price objective on shares of Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Barclays boosted their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Wells Fargo & Company increased their price target on shares of Columbia Banking System from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen started coverage on Columbia Banking System in a research note on Thursday, May 22nd. They set a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average price target of $29.64.

Insider Activity

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by company insiders.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $23.43 on Friday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 9.22 and a beta of 0.59. Columbia Banking System, Inc. has a 52-week low of $18.20 and a 52-week high of $32.85. The firm has a 50 day moving average price of $23.28 and a two-hundred day moving average price of $26.25.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $481.92 million during the quarter, compared to the consensus estimate of $482.86 million. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Columbia Banking System’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Friday, May 30th. Columbia Banking System’s dividend payout ratio is 61.02%.

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.