Larson Financial Group LLC Raises Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Larson Financial Group LLC lifted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 22,244.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,033 shares of the financial services provider’s stock after acquiring an additional 6,006 shares during the quarter. Larson Financial Group LLC’s holdings in Columbia Banking System were worth $163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Callan Family Office LLC bought a new position in Columbia Banking System during the fourth quarter valued at $232,000. Inceptionr LLC bought a new position in Columbia Banking System during the fourth quarter valued at $419,000. Raymond James Financial Inc. bought a new position in Columbia Banking System during the fourth quarter valued at $22,476,000. Arizona State Retirement System grew its holdings in Columbia Banking System by 0.8% during the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock valued at $1,641,000 after purchasing an additional 469 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Columbia Banking System during the fourth quarter valued at $296,000. 92.53% of the stock is owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the sale, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $23.89 on Wednesday. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 9.41 and a beta of 0.62. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85. The stock has a fifty day moving average of $27.20 and a 200 day moving average of $27.49.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s dividend payout ratio is 56.69%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup reduced their price objective on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Barclays raised their price target on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Stephens cut their price target on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.38.

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.