Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 74.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,085 shares of the financial services provider's stock after selling 59,792 shares during the period. BNP Paribas Financial Markets' holdings in Columbia Banking System were worth $542,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System lifted its position in Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock valued at $1,641,000 after acquiring an additional 469 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Columbia Banking System by 0.6% during the fourth 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 holdings in shares of Columbia Banking System by 2.0% in the 4th 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. Nisa Investment Advisors LLC lifted its holdings in shares of Columbia Banking System by 1.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider's stock valued at $1,342,000 after purchasing an additional 621 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Columbia Banking System by 62.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 780 shares during the period. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Stock Up 0.9%

COLB stock traded up $0.22 on Thursday, reaching $23.86. 2,810,403 shares of the company's stock were exchanged, compared to its average volume of 1,784,415. The stock has a fifty day moving average of $23.32 and a 200-day moving average of $26.30. The firm has a market cap of $5.02 billion, a PE ratio of 9.39 and a beta of 0.59. Columbia Banking System, Inc. has a twelve month low of $18.20 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating 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%. The business's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.36 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 6.04%. Columbia Banking System's dividend payout ratio (DPR) is presently 61.02%.

Insider Activity

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

Analysts Set New Price Targets

COLB has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Raymond James set a $27.00 price target on shares of Columbia Banking System and gave the company an "outperform" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Wall Street Zen assumed coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Finally, Wells Fargo & Company increased their target price on shares of Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average price target of $29.64.

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.