Raymond James Financial Inc. Makes New $22.48 Million Investment in Columbia Banking System, Inc. (NASDAQ:COLB)

Raymond James Financial Inc. acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 832,111 shares of the financial services provider's stock, valued at approximately $22,476,000. Raymond James Financial Inc. owned about 0.40% of Columbia Banking System as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COLB. HighTower Advisors LLC acquired a new stake in Columbia Banking System during the 3rd quarter valued at $352,000. Sanctuary Advisors LLC acquired a new stake in shares of Columbia Banking System during the 3rd quarter worth about $288,000. Tidal Investments LLC boosted its holdings in shares of Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock worth $1,128,000 after buying an additional 464 shares during the period. JPMorgan Chase & Co. grew its stake in Columbia Banking System by 15.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 716,673 shares of the financial services provider's stock valued at $18,712,000 after buying an additional 97,498 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Columbia Banking System by 82.0% in 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 purchasing an additional 176,334 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

NASDAQ COLB traded down $0.80 during trading hours on Thursday, reaching $22.72. The company's stock had a trading volume of 3,766,388 shares, compared to its average volume of 1,777,828. Columbia Banking System, Inc. has a 52 week low of $18.11 and a 52 week high of $32.85. The stock has a market cap of $4.77 billion, a P/E ratio of 8.94 and a beta of 0.53. The firm has a fifty day simple moving average of $24.24 and a 200-day simple moving average of $27.04.

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 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 company had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. On average, research analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date was Friday, February 28th. Columbia Banking System's dividend payout ratio is currently 56.69%.

Analysts Set New Price Targets

COLB has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday. Stephens lowered 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 report on Tuesday, January 28th. 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. Keefe, Bruyette & Woods reduced their price target on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $29.77.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the business's stock in a transaction 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 transaction, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by insiders.

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.