Inspire Investing LLC Has $945,000 Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Inspire Investing LLC lessened its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,988 shares of the financial services provider’s stock after selling 3,084 shares during the period. Inspire Investing LLC’s holdings in Columbia Banking System were worth $945,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP increased its position in shares of Columbia Banking System by 0.3% during the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock worth $4,583,000 after acquiring an additional 458 shares in the last quarter. Tidal Investments LLC boosted its stake in Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 464 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 544 shares in the last quarter. Sippican Capital Advisors increased its holdings in Columbia Banking System by 0.5% during the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock worth $2,903,000 after purchasing an additional 552 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Columbia Banking System by 1.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 621 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COLB. Barclays upped their price target 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. UBS Group initiated coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Finally, Truist Financial increased their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.31.

Columbia Banking System Stock Performance

COLB stock opened at $28.15 on Friday. The stock has a fifty day moving average of $28.84 and a 200-day moving average of $26.64. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 12.19 and a beta of 0.67.

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, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. Equities analysts predict that Columbia Banking System, Inc. will post 2.66 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.36 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.12%. Columbia Banking System’s dividend payout ratio is 62.34%.

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.