Voloridge Investment Management LLC Buys 12,909 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Voloridge Investment Management LLC increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,221 shares of the financial services provider's stock after purchasing an additional 12,909 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.06% of Columbia Banking System worth $3,193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. Aster Capital Management DIFC Ltd bought a new position in shares of Columbia Banking System in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. bought a new stake in Columbia Banking System during the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. bought a new stake in shares of Columbia Banking System in the 4th quarter worth approximately $42,000. Kapitalo Investimentos Ltda purchased a new position in shares of Columbia Banking System in the fourth quarter worth $42,000. Finally, Smartleaf Asset Management LLC increased its position in Columbia Banking System by 62.0% during 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. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 104,869 shares of the company's stock, valued at $2,725,545.31. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.68% of the stock is currently owned by insiders.

Columbia Banking System Trading Down 1.8%

Shares of COLB traded down $0.43 during mid-day trading on Friday, hitting $23.43. The company's stock had a trading volume of 2,246,230 shares, compared to its average volume of 1,788,077. The firm has a 50-day simple moving average of $23.28 and a 200 day simple moving average of $26.18. The firm has a market capitalization of $4.93 billion, a P/E ratio of 9.22 and a beta of 0.59. Columbia Banking System, Inc. has a 1-year low of $18.20 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The company 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%. Columbia Banking System's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Friday, May 30th. Columbia Banking System's dividend payout ratio is presently 61.02%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COLB. Barclays upped their target price 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. Jefferies Financial Group began coverage on shares of Columbia Banking System in a report on Wednesday, May 21st. They set a "hold" rating and a $27.00 price objective for the company. Wells Fargo & Company increased their target price on Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Wall Street Zen assumed coverage on Columbia Banking System in a research report on Thursday, May 22nd. They issued a "hold" rating for the company. Finally, Raymond James set a $27.00 price target on Columbia Banking System and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Eleven 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 presently has a consensus rating of "Hold" and an average target price 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.