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

Inspire Investing LLC cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,988 shares of the financial services provider’s stock after selling 3,084 shares during the quarter. Inspire Investing LLC’s holdings in Columbia Banking System were worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Columbia Banking System by 54.9% during the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,290 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 4,553 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Columbia Banking System by 26.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,091 shares during the last quarter. Signaturefd LLC increased its holdings in Columbia Banking System by 14.0% in the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Columbia Banking System in the third quarter valued at about $208,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COLB has been the subject of several recent research reports. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wedbush lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Columbia Banking System presently has an average rating of “Hold” and an average price target of $29.31.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $28.15 on Friday. The company has a market cap of $5.90 billion, a P/E ratio of 12.19 and a beta of 0.67. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The stock has a 50 day simple moving average of $28.84 and a two-hundred day simple moving average of $26.64.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Columbia Banking System, Inc. will post 2.66 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.12%. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Columbia Banking System Profile

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.