Inscription Capital LLC Buys Shares of 19,408 Columbia Banking System, Inc. $COLB

Inscription Capital LLC bought a new position in Columbia Banking System, Inc. (NASDAQ:COLBFree Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,408 shares of the financial services provider’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in Columbia Banking System by 612.8% during the 3rd quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after buying an additional 864 shares during the period. West Oak Capital LLC acquired a new position in Columbia Banking System in the third quarter valued at about $28,000. Quent Capital LLC bought a new stake in shares of Columbia Banking System in the third quarter worth about $29,000. First Horizon Corp acquired a new stake in shares of Columbia Banking System during the third quarter worth about $31,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of 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 valued at $30,000 after purchasing an additional 794 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.1%

Columbia Banking System stock opened at $29.67 on Friday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $30.28. The company has a fifty day simple moving average of $28.34 and a 200 day simple moving average of $26.58. The company has a market cap of $8.87 billion, a P/E ratio of 13.36 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The company had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. During the same period in the prior year, the business posted $0.71 EPS. On average, equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a $0.37 dividend. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, November 28th. Columbia Banking System’s dividend payout ratio is 66.67%.

Columbia Banking System News Summary

Here are the key news stories impacting Columbia Banking System this week:

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COLB. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday, December 29th. Piper Sandler set a $33.00 price objective on shares of Columbia Banking System in a research report on Monday, November 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Wall Street Zen raised shares of Columbia Banking System to a “hold” rating in a research note on Saturday, December 27th. Finally, UBS Group restated a “neutral” rating and issued a $30.00 price target on shares of Columbia Banking System in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.08.

Get Our Latest Stock Analysis on Columbia Banking System

Columbia Banking System Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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