Sterling Capital Management LLC Purchases 6,840 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Sterling Capital Management LLC grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 178,681 shares of the financial services provider’s stock after buying an additional 6,840 shares during the period. Sterling Capital Management LLC owned approximately 0.09% of Columbia Banking System worth $4,826,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Columbia Banking System during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Columbia Banking System during the fourth quarter worth $32,000. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Banking System during the fourth quarter worth $42,000. Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 780 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in Columbia Banking System by 171.3% in the 4th 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. Institutional investors own 92.53% of the company’s stock.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the transaction, the vice president now directly owns 104,869 shares of the company’s stock, valued at $2,725,545.31. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.59% of the company’s stock.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $20.84 on Friday. The company’s 50-day moving average is $25.12 and its 200-day moving average is $27.24. The firm has a market capitalization of $4.38 billion, a PE ratio of 8.20 and a beta of 0.53. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

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

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date was Friday, February 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Analyst Ratings Changes

Several analysts have issued reports on COLB shares. Barclays dropped their price target on Columbia Banking System from $33.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their target price on Columbia Banking System from $35.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group assumed coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. Finally, Citigroup cut their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.00.

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.