Columbia Banking System, Inc. $COLB Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 56.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,324 shares of the financial services provider’s stock after acquiring an additional 32,542 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Columbia Banking System were worth $2,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in 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 purchasing an additional 864 shares during the last quarter. West Oak Capital LLC bought a new stake in shares of Columbia Banking System during the 3rd quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its stake in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the period. Bessemer Group Inc. raised its position in shares of Columbia Banking System by 53.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 624 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Columbia Banking System by 38.1% during the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 623 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

NASDAQ COLB opened at $28.29 on Wednesday. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $29.72. The stock’s 50-day moving average is $28.03 and its two-hundred day moving average is $26.40. The firm has a market cap of $8.46 billion, a P/E ratio of 12.74 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 for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. The business had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $565.11 million. During the same period in the previous year, the company earned $0.69 earnings per share. Columbia Banking System’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, November 28th. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

Several research firms have commented on COLB. Wall Street Zen upgraded shares of Columbia Banking System to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday, December 29th. Piper Sandler set a $33.00 price objective on Columbia Banking System in a report on Monday, November 3rd. Cowen reiterated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Finally, TD Cowen boosted their price target on shares of Columbia Banking System from $28.00 to $32.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and an average 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.