Quantinno Capital Management LP Takes Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Quantinno Capital Management LP acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,830 shares of the financial services provider's stock, valued at approximately $401,000.

Several other large investors also recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Columbia Banking System in the 4th quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in Columbia Banking System in the fourth quarter valued at about $32,000. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System in the fourth quarter valued at about $42,000. Kapitalo Investimentos Ltda acquired a new stake in Columbia Banking System in the fourth quarter worth about $42,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Columbia Banking System by 62.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock worth $55,000 after acquiring an additional 780 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on COLB shares. 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. Wall Street Zen began coverage on shares of Columbia Banking System in a report on Thursday, May 22nd. They issued a "hold" rating on the stock. Barclays lifted their price objective on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Raymond James set a $27.00 target price on shares of Columbia Banking System and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Piper Sandler decreased their target price on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Columbia Banking System presently has a consensus rating of "Hold" and a consensus price target of $29.64.

Columbia Banking System Stock Down 0.3%

Shares of NASDAQ:COLB traded down $0.07 on Friday, reaching $23.44. The company had a trading volume of 250,836 shares, compared to its average volume of 1,778,531. The stock has a market capitalization of $4.93 billion, a P/E ratio of 9.21 and a beta of 0.59. The stock has a 50-day moving average price of $23.32 and a 200 day moving average price of $26.30. 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 posted 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 company had revenue of $481.92 million during the quarter, compared to analysts' expectations of $482.86 million. During the same period in the prior year, the business earned $0.65 earnings per share. Columbia Banking System's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a yield of 6.14%. Columbia Banking System's dividend payout ratio is 61.02%.

Insider Activity at Columbia Banking System

In related 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 completion of the sale, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by company insiders.

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.