Keybank National Association OH Purchases New Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Keybank National Association OH purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,943 shares of the financial services provider’s stock, valued at approximately $242,000.

Several other large investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Columbia Banking System during the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC lifted its position in shares of 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 worth $55,000 after buying an additional 780 shares in the last quarter. Principal Securities Inc. lifted its position 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 buying an additional 1,343 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Columbia Banking System by 36.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after buying an additional 801 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after buying an additional 4,553 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

COLB opened at $23.89 on Wednesday. The company has a fifty day moving average price of $27.20 and a 200-day moving average price of $27.49. The firm has a market capitalization of $5.01 billion, a P/E ratio of 9.41 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. On average, analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 6.03%. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Insider Buying and Selling

In related news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were 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 in the company, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on COLB shares. Stephens dropped 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 report on Tuesday, January 28th. Barclays lifted their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.38.

About Columbia Banking System

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.