Trexquant Investment LP Raises Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Trexquant Investment LP boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,796 shares of the financial services provider’s stock after purchasing an additional 28,040 shares during the quarter. Trexquant Investment LP’s holdings in Columbia Banking System were worth $5,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of COLB. SBI Securities Co. Ltd. purchased a new stake in shares of Columbia Banking System in the fourth quarter worth $32,000. Meeder Asset Management Inc. purchased a new stake in shares of Columbia Banking System in the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC boosted its position in shares of Columbia Banking System by 62.0% during 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 during the last quarter. Principal Securities Inc. grew its holdings in shares of Columbia Banking System by 171.3% during the fourth 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 in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Columbia Banking System by 36.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 801 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $20.78 on Friday. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The firm has a market cap of $4.36 billion, a PE ratio of 8.18 and a beta of 0.53. The business has a 50 day moving average price of $26.05 and a 200-day moving average price of $27.47.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date was Friday, February 28th. Columbia Banking System’s payout ratio is 56.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stephens cut their price target on shares of 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. Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Citigroup decreased their price objective on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and an average price target of $31.25.

Insiders Place Their Bets

In related news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 in the company, valued at $2,725,545.31. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.62% of the company’s stock.

Columbia Banking System 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.