10,966 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,966 shares of the financial services provider’s stock, valued at approximately $296,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. boosted its position in Columbia Banking System by 171.3% during the fourth quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,343 shares during the period. Farther Finance Advisors LLC boosted its position in Columbia Banking System by 1,507.6% during the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,553 shares during the period. Blue Trust Inc. boosted its position in Columbia Banking System by 14.9% during the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 875 shares during the period. Wedmont Private Capital bought a new position in Columbia Banking System during the fourth quarter worth $209,000. Finally, Principle Wealth Partners LLC boosted its position in Columbia Banking System by 14.3% during the fourth quarter. Principle Wealth Partners LLC now owns 8,843 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 1,104 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COLB has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods reduced their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. UBS Group initiated coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Stephens lowered their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.38.

Insiders Place Their Bets

In other Columbia Banking System 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 transaction of $116,461.19. Following the transaction, the vice president now directly owns 104,869 shares in the company, 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 is accessible through this link. Company insiders own 0.62% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $23.89 on Wednesday. The business has a 50 day moving average of $27.20 and a 200-day moving average of $27.49. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $32.85. The company has a market capitalization of $5.01 billion, a P/E ratio of 9.41 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. Equities analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s payout ratio is presently 56.69%.

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.