Algert Global LLC Buys 18,994 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Algert Global LLC grew its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 34.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 73,355 shares of the financial services provider's stock after buying an additional 18,994 shares during the period. Algert Global LLC's holdings in Columbia Banking System were worth $1,981,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in Columbia Banking System by 3.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 122,274 shares of the financial services provider's stock worth $3,303,000 after acquiring an additional 4,408 shares during the period. Pacer Advisors Inc. increased its holdings in Columbia Banking System by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock valued at $844,000 after purchasing an additional 612 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Columbia Banking System by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,774,443 shares of the financial services provider's stock valued at $47,928,000 after buying an additional 42,527 shares during the period. Nordea Investment Management AB boosted its holdings in Columbia Banking System by 82.0% during the fourth quarter. Nordea Investment Management AB now owns 391,286 shares of the financial services provider's stock worth $10,592,000 after buying an additional 176,334 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Columbia Banking System by 15.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider's stock worth $18,712,000 after buying an additional 97,498 shares during the period. Institutional investors own 92.53% of the company's stock.

Insider Activity

In related news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. 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. DA Davidson set a $25.00 target price on Columbia Banking System and gave the stock a "neutral" rating in a report on Thursday, April 24th. Barclays increased their price target on Columbia Banking System from $27.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Finally, Raymond James set a $27.00 price objective on Columbia Banking System and gave the company an "outperform" rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.85.

Columbia Banking System Trading Down 0.5 %

Shares of Columbia Banking System stock traded down $0.12 during trading hours on Friday, reaching $23.93. 1,584,470 shares of the company's stock were exchanged, compared to its average volume of 1,773,545. The stock has a market cap of $5.03 billion, a P/E ratio of 9.42 and a beta of 0.59. The company has a 50 day moving average of $23.39 and a two-hundred day moving average of $26.73. Columbia Banking System, Inc. has a fifty-two week low of $18.11 and a fifty-two week high of $32.85.

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

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date was Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 61.02%.

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.