Inspire Advisors LLC Acquires Shares of 121,984 Columbia Banking System, Inc. $COLB

Inspire Advisors LLC bought a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 121,984 shares of the financial services provider’s stock, valued at approximately $3,140,000. Inspire Advisors LLC owned approximately 0.06% of Columbia Banking System as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COLB. True Wealth Design LLC raised its holdings in shares of Columbia Banking System by 612.8% during the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 864 shares during the last quarter. West Oak Capital LLC purchased a new stake in shares of Columbia Banking System during the third quarter worth approximately $28,000. Quent Capital LLC acquired a new position in Columbia Banking System in the 3rd quarter valued at $29,000. First Horizon Corp purchased a new position in Columbia Banking System in the 3rd quarter valued at $31,000. Finally, Geneos Wealth Management Inc. boosted its stake in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Down 1.2%

NASDAQ:COLB opened at $28.91 on Monday. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $29.72. The stock’s fifty day moving average is $28.17 and its two-hundred day moving average is $26.49. The company has a market capitalization of $8.65 billion, a P/E ratio of 13.02 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%.The firm had revenue of $577.00 million during the quarter, compared to the consensus estimate of $565.11 million. During the same period last year, the company earned $0.69 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s dividend payout ratio is 66.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Cowen restated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Citigroup raised their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. UBS Group restated a “neutral” rating and issued a $30.00 price target on shares of Columbia Banking System in a research report on Tuesday, January 6th. Piper Sandler set a $33.00 price target on Columbia Banking System in a report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.08.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.