Quantbot Technologies LP Invests $1.71 Million in Columbia Banking System, Inc. (NASDAQ:COLB)

Quantbot Technologies LP acquired a new position in Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 63,206 shares of the financial services provider’s stock, valued at approximately $1,707,000.

Several other institutional investors have also modified their holdings of COLB. TD Private Client Wealth LLC grew its holdings in shares of Columbia Banking System by 36.1% in the 4th quarter. TD Private Client Wealth LLC now owns 8,430 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 2,235 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Columbia Banking System by 39.9% in the 4th quarter. Teacher Retirement System of Texas now owns 50,353 shares of the financial services provider’s stock valued at $1,360,000 after purchasing an additional 14,349 shares during the period. Xponance Inc. increased its stake in Columbia Banking System by 5.6% in the 4th quarter. Xponance Inc. now owns 23,796 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 1,259 shares in the last quarter. Boston Partners raised its holdings in Columbia Banking System by 38.0% during the 4th quarter. Boston Partners now owns 1,271,289 shares of the financial services provider’s stock worth $34,662,000 after buying an additional 350,229 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in Columbia Banking System by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,774,443 shares of the financial services provider’s stock valued at $47,928,000 after buying an additional 42,527 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on COLB. Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $33.00 to $35.00 in a research report on Monday, January 6th. Barclays increased their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods lowered their price target on 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. Stephens reduced their price objective 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. Finally, UBS Group began coverage on Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and an average target price of $31.25.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the firm’s 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 completion of the sale, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Columbia Banking System Stock Performance

COLB opened at $25.67 on Tuesday. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 10.11 and a beta of 0.62. The firm’s 50-day simple moving average is $26.79 and its 200-day simple moving average is $27.48. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal 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 issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 5.61%. Columbia Banking System’s dividend payout ratio is 56.69%.

Columbia Banking System Company Profile

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.