1,504 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Acquired by First Pacific Financial

First Pacific Financial acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,504 shares of the financial services provider’s stock, valued at approximately $40,000.

A number of other hedge funds also recently made changes to their positions in COLB. EverSource Wealth Advisors LLC raised its position in shares of Columbia Banking System by 1,506.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,326 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Columbia Banking System in the 4th quarter worth about $32,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Columbia Banking System by 152.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,589 shares of the financial services provider’s stock worth $34,000 after buying an additional 959 shares during the period. Global Retirement Partners LLC grew its position in Columbia Banking System by 27.2% in the 3rd quarter. Global Retirement Partners LLC now owns 2,489 shares of the financial services provider’s stock valued at $47,000 after buying an additional 533 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Columbia Banking System by 898.8% in the 1st quarter. Quarry LP now owns 2,447 shares of the financial services provider’s stock worth $52,000 after buying an additional 2,202 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $19.10 on Thursday. Columbia Banking System, Inc. has a one year low of $17.18 and a one year high of $28.11. The stock’s fifty day moving average price is $19.48 and its two-hundred day moving average price is $21.37. The firm has a market cap of $3.98 billion, a PE ratio of 11.58 and a beta of 0.70.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.35). The firm had revenue of $519.16 million for the quarter, compared to the consensus estimate of $525.94 million. Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The company’s revenue was up 52.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.32 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s dividend payout ratio is 87.27%.

Insider Activity

In other Columbia Banking System news, CEO Clint Stein acquired 9,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $20.96 per share, with a total value of $199,120.00. Following the purchase, the chief executive officer now directly owns 165,684 shares of the company’s stock, valued at $3,472,736.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Clint Stein acquired 9,500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was purchased at an average cost of $20.96 per share, with a total value of $199,120.00. Following the acquisition, the chief executive officer now owns 165,684 shares of the company’s stock, valued at approximately $3,472,736.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ron L. Farnsworth bought 2,500 shares of Columbia Banking System stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $20.71 per share, with a total value of $51,775.00. Following the completion of the acquisition, the chief financial officer now owns 160,073 shares of the company’s stock, valued at $3,315,111.83. The disclosure for this purchase can be found here. Insiders have acquired 35,133 shares of company stock valued at $719,737 in the last ninety days. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on COLB shares. Raymond James cut shares of Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 price objective on the stock. in a research report on Thursday, January 25th. DA Davidson lowered their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Stephens cut Columbia Banking System from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $31.00 to $24.00 in a research note on Thursday, January 25th. Wedbush reduced their target price on shares of Columbia Banking System from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, Citigroup dropped their price target on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.04.

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.