XTX Topco Ltd Trims Position in Columbia Banking System, Inc. (NASDAQ:COLB)

XTX Topco Ltd reduced its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 75.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,751 shares of the financial services provider's stock after selling 39,545 shares during the period. XTX Topco Ltd's holdings in Columbia Banking System were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COLB. Aster Capital Management DIFC Ltd purchased a new position in Columbia Banking System during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Columbia Banking System in the fourth quarter worth about $32,000. Meeder Asset Management Inc. acquired a new stake in Columbia Banking System during the fourth quarter worth about $42,000. Smartleaf Asset Management LLC lifted its stake 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. Finally, Principal Securities Inc. boosted its stake in shares of Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider's stock worth $57,000 after acquiring an additional 1,343 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Trading Down 0.4 %

Shares of NASDAQ:COLB traded down $0.09 on Tuesday, reaching $22.53. 199,131 shares of the company were exchanged, compared to its average volume of 1,780,165. Columbia Banking System, Inc. has a 1-year low of $18.11 and a 1-year high of $32.85. The company has a 50-day moving average of $23.96 and a 200-day moving average of $26.99. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 8.86 and a beta of 0.53.

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 analysts' consensus estimates of $0.63 by $0.04. The business had revenue of $481.92 million for the quarter, compared to analysts' expectations of $482.86 million. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The company's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 6.39%. Columbia Banking System's dividend payout ratio (DPR) is currently 61.02%.

Insiders Place Their Bets

In related news, VP Torran B. Nixon sold 4,481 shares of the company's 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 sale, the vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COLB has been the topic of several recent research reports. 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 research note on Tuesday, January 28th. Piper Sandler dropped their price target 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. Wells Fargo & Company increased their target price on Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Finally, Citigroup decreased their price target on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average price target of $29.85.

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.