Nisa Investment Advisors LLC holds $629,000 in Columbia Banking System, Inc. (NASDAQ:COLB)

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Nisa Investment Advisors LLC reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) by 1.9% during the first quarter, Holdings Channel.com reports. The company held 19,480 shares of the financial services provider after selling 370 shares during the period. Nisa Investment Advisors LLC’s holdings in Columbia Banking System were worth $629,000 when it last filed with the SEC.

Other major investors have also recently changed their positions in the company. Earnest Partners LLC acquired a new position in shares of Columbia Banking System in Q4 worth approximately $27,000. Covestor Ltd purchased a new stake in shares of Columbia Banking System in Q4, valued at approximately $28,000. Pinebridge Investments LP purchased a new stake in shares of Columbia Banking System in Q4 valued at approximately $69,000. Point72 Hong Kong Ltd bought a new stake in shares of Columbia Banking System in Q4, valued at around $139,000. Finally, Brown Advisory Inc. purchased a new stake in Columbia Banking System during the fourth quarter at a value of approximately $244,000. Institutional investors and hedge funds hold 94.44% of the company’s shares.

Columbia’s banking system stock down 2.0%

Shares of COLB Stock opened at $29.33 on Monday. Columbia Banking System, Inc. has a 12 month minimum of $26.97 and a 12 month maximum of $40.78. The company has a market capitalization of $2.31 billion, a PE ratio of 10.55 and a beta of 0.67. The stock has a 50-day moving average of $29.13 and a 200-day moving average of $31.93.

Colombian banking system (NASDAQ:COLBGet a rating) last released its quarterly results on Thursday, July 21. The financial services provider reported EPS of $0.75 for the quarter, missing analyst consensus estimates of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period last year, the company achieved EPS of $0.77. As a group, stock analysts predict Columbia Banking System, Inc. will post EPS of 2.73 for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Investors of record on Wednesday, August 3 will receive a dividend of $0.30. The ex-dividend date is Tuesday, August 2. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 4.09%. Columbia Banking System’s payout rate is 43.17%.

Insider Activity at Columbia Banking System

In other news, CFO Aaron James Cerf bought 3,000 shares of the company in a transaction that took place on Monday, May 2. The shares were acquired at an average cost of $28.00 per share, for a total transaction of $84,000.00. Following the completion of the purchase, the CFO now owns 15,427 shares of the company, valued at approximately $431,956. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Separately, director Craig D. Eerkes acquired 1,694 shares of the company in a transaction on Friday, June 10. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the purchase, the administrator now directly owns 20,227 shares of the company, valued at approximately $576,874.04. The transaction was disclosed in an SEC filing, which is available via the SEC website. Also, CFO Aaron James Cerf acquired 3,000 shares of the company in a transaction on Monday, May 2. The shares were purchased at an average price of $28.00 per share, with a total value of $84,000.00. Following the completion of the purchase, the CFO now directly owns 15,427 shares of the company, valued at $431,956. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 5,713 shares of the company worth $158,593. 0.62% of the shares are held by insiders.

Wall Street analysts predict growth

A number of brokerages have published reports on COLB. Royal Bank of Canada raised its target price on Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a Friday, April 22 research report. Piper Sandler lowered her target price on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research report. StockNews.com began covering Columbia Banking System in a research report on Thursday, March 31. They set a “holding” rating for the company. Finally, Raymond James cut his price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 research report. Four investment analysts gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and a consensus price target of $34.80.

Columbia Banking System Company Profile

(Get a rating)

Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

Further reading

Want to see which other hedge funds hold COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLBGet a rating).

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)



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