Inscription Capital LLC Acquires 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 the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,408 shares of the financial services provider’s stock, valued at approximately $500,000.

A number of other hedge funds have also made changes to their positions in COLB. Verdence Capital Advisors LLC grew its stake in Columbia Banking System by 2.0% during the second quarter. Verdence Capital Advisors LLC now owns 20,714 shares of the financial services provider’s stock worth $484,000 after buying an additional 403 shares during the last quarter. Mengis Capital Management Inc. grew its holdings in shares of Columbia Banking System by 1.1% during the second quarter. Mengis Capital Management Inc. now owns 50,511 shares of the financial services provider’s stock worth $1,181,000 after purchasing an additional 529 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Columbia Banking System by 4.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,758 shares of the financial services provider’s stock valued at $275,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Columbia Banking System by 26.6% in the second quarter. Blue Trust Inc. now owns 2,718 shares of the financial services provider’s stock valued at $64,000 after buying an additional 571 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Columbia Banking System by 38.1% in the second quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after buying an additional 623 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Key Columbia Banking System News

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Columbia Banking System to a “hold” rating in a report on Saturday, December 27th. Keefe, Bruyette & Woods upped their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. UBS Group reissued a “neutral” rating and issued a $30.00 price target on shares of Columbia Banking System in a report on Tuesday, January 6th. Barclays boosted their price objective on shares of Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.08.

View Our Latest Stock Report on COLB

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $29.67 on Friday. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 13.36 and a beta of 0.60. The company has a 50 day moving average of $28.34 and a 200-day moving average of $26.58. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $30.28.

Columbia Banking System (NASDAQ:COLBGet Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.71 earnings per share. Equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Increases Dividend

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

Columbia Banking System Company 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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