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 growth in short interest in February. As of February 28th, there was short interest totalling 7,240,000 shares, a growth of 34.1% from the February 13th total of 5,400,000 shares. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is currently 4.8 days. Approximately 3.5% of the shares of the stock are sold short.

Columbia Banking System Stock Performance

NASDAQ COLB traded down $0.08 on Tuesday, reaching $24.69. 234,290 shares of the stock traded hands, compared to its average volume of 1,784,410. The company has a fifty day moving average price of $26.98 and a 200-day moving average price of $27.47. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 9.70 and a beta of 0.62. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 5.83%. Columbia Banking System’s dividend payout ratio (DPR) is 56.69%.

Insider Buying and Selling

In related news, VP Torran B. Nixon sold 4,481 shares of the 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COLB. Natixis Advisors LLC grew its stake in Columbia Banking System by 18.3% during the 3rd quarter. Natixis Advisors LLC now owns 115,855 shares of the financial services provider’s stock valued at $3,025,000 after purchasing an additional 17,944 shares during the last quarter. Stieven Capital Advisors L.P. grew its stake in Columbia Banking System by 98.6% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 944,332 shares of the financial services provider’s stock valued at $24,657,000 after purchasing an additional 468,832 shares during the last quarter. Quest Partners LLC purchased a new stake in Columbia Banking System during the 3rd quarter valued at about $683,000. LMR Partners LLP purchased a new stake in Columbia Banking System during the 3rd quarter valued at about $1,079,000. Finally, Pathstone Holdings LLC grew its stake in Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after purchasing an additional 37,941 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on COLB. 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. Citigroup cut their price target 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. UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. JPMorgan Chase & Co. dropped their target price 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. Finally, Barclays lifted their target price 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. Nine investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.25.

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.