Columbia Banking System, Inc. (NASDAQ:COLB) Short Interest Up 34.1% in February

Columbia Banking System, Inc. (NASDAQ:COLB) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 7,240,000 shares, an increase of 34.1% from the February 13th total of 5,400,000 shares. Based on an average trading volume of 1,520,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.5% of the company’s shares are sold short.

Columbia Banking System Trading Down 0.4 %

COLB stock traded down $0.09 during mid-day trading on Monday, hitting $24.68. 256,618 shares of the company were exchanged, compared to its average volume of 1,787,906. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $32.85. The firm has a fifty day simple moving average of $27.03 and a 200 day simple moving average of $27.47. The company has a market capitalization of $5.17 billion, a PE ratio of 9.72 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on COLB shares. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Citigroup dropped their price target on 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. Stephens reduced their price objective on 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. Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their target price 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. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.25.

Insider Buying and Selling

In other news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now 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 SEC, which is available through this link. 0.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently bought and sold shares of COLB. Tidal Investments LLC grew its holdings in shares of Columbia Banking System by 1.1% during the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 464 shares during the last quarter. Arizona State Retirement System increased its position in Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock worth $1,641,000 after buying an additional 469 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Columbia Banking System by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock valued at $1,025,000 after buying an additional 544 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Columbia Banking System by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock valued at $2,476,000 after acquiring an additional 580 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Columbia Banking System by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 612 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.