Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Sippican Capital Advisors

Sippican Capital Advisors increased its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,172 shares of the financial services provider’s stock after purchasing an additional 552 shares during the quarter. Columbia Banking System comprises about 2.0% of Sippican Capital Advisors’ portfolio, making the stock its 13th biggest holding. Sippican Capital Advisors owned 0.05% of Columbia Banking System worth $2,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in Columbia Banking System during the second quarter valued at about $33,000. Abich Financial Wealth Management LLC lifted its stake in Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after buying an additional 4,115 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB traded up $0.02 during midday trading on Thursday, reaching $29.19. 32,032 shares of the company traded hands, compared to its average volume of 2,283,926. The stock’s 50-day simple moving average is $25.79 and its 200-day simple moving average is $22.47. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $29.41. The firm has a market cap of $6.11 billion, a PE ratio of 12.63 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter last year, the company posted $0.79 EPS. On average, equities research analysts expect that Columbia Banking System, Inc. will post 2.55 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COLB. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Keefe, Bruyette & Woods lifted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Wedbush lifted their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Barclays increased their target price on Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.12.

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.