19,200 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,200 shares of the financial services provider's stock, valued at approximately $519,000.

Other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Columbia Banking System in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in shares of Columbia Banking System in the fourth quarter worth about $32,000. Meeder Asset Management Inc. acquired a new position in shares of Columbia Banking System during the fourth quarter worth approximately $42,000. Kapitalo Investimentos Ltda bought a new stake in shares of Columbia Banking System during the fourth quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Columbia Banking System by 62.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Stock Down 1.4%

NASDAQ COLB traded down $0.32 during trading hours on Wednesday, reaching $23.12. 461,842 shares of the company were exchanged, compared to its average volume of 1,784,443. The stock has a market capitalization of $4.86 billion, a P/E ratio of 9.10 and a beta of 0.63. Columbia Banking System, Inc. has a 1 year low of $18.20 and a 1 year high of $32.85. The business's 50 day simple moving average is $23.19 and its 200-day simple moving average is $26.11.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $481.92 million during the quarter, compared to analyst estimates of $482.86 million. During the same period in the prior 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. As a group, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current 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 given a dividend of $0.36 per share. The ex-dividend date is Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.23%. Columbia Banking System's dividend payout ratio is currently 61.02%.

Analysts Set New Price Targets

COLB has been the subject of a number of research reports. DA Davidson set a $25.00 target price on Columbia Banking System and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of 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. Jefferies Financial Group initiated coverage on Columbia Banking System in a research report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 target price on the stock. Piper Sandler dropped their target price on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen started coverage on shares of Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.64.

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.