Columbia Banking System, Inc. (NASDAQ:COLB) Stock Position Decreased by Black Maple Capital Management LP

Black Maple Capital Management LP reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 35.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 40,560 shares of the financial services provider's stock after selling 22,500 shares during the period. Black Maple Capital Management LP's holdings in Columbia Banking System were worth $1,096,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its position 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 purchasing an additional 4,408 shares during the period. Pacer Advisors Inc. grew its holdings in 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 buying an additional 612 shares during the last quarter. William Blair Investment Management LLC raised its stake in Columbia Banking System by 2.5% in the 4th 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 purchasing an additional 42,527 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of 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 valued at $10,592,000 after buying an additional 176,334 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 97,498 shares during the period. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Price Performance

Shares of COLB traded down $0.39 during trading hours on Tuesday, reaching $23.25. 1,941,756 shares of the company's stock traded hands, compared to its average volume of 1,766,425. Columbia Banking System, Inc. has a twelve month low of $18.11 and a twelve month high of $32.85. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 9.15 and a beta of 0.59. The business's fifty day simple moving average is $23.54 and its two-hundred day simple moving average is $26.81.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.36 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 6.19%. Columbia Banking System's dividend payout ratio is currently 61.02%.

Insider Activity

In other news, VP Torran B. Nixon sold 4,481 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the transaction, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

COLB has been the subject of a number of recent analyst reports. DA Davidson set a $25.00 target price on shares of Columbia Banking System and gave the company a "neutral" rating in a report on Thursday, April 24th. Stephens reduced their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Royal Bank of Canada dropped their target price 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. Finally, Barclays raised their price objective on Columbia Banking System from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $29.85.

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.