Inspire Investing LLC Purchases Shares of 38,072 Columbia Banking System, Inc. (NASDAQ:COLB)

Inspire Investing LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,072 shares of the financial services provider's stock, valued at approximately $994,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Columbia Banking System by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 636,934 shares of the financial services provider's stock worth $16,993,000 after purchasing an additional 40,126 shares during the period. Wellington Management Group LLP boosted its position in shares of Columbia Banking System by 16.2% during the fourth quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider's stock valued at $122,158,000 after buying an additional 637,212 shares during the period. Vanguard Group Inc. grew its stake in shares of Columbia Banking System by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,753,210 shares of the financial services provider's stock valued at $580,376,000 after buying an additional 123,120 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Columbia Banking System by 44.4% in the first quarter. Moody National Bank Trust Division now owns 34,434 shares of the financial services provider's stock worth $666,000 after buying an additional 10,593 shares during the period. Finally, CWM LLC lifted its stake in shares of Columbia Banking System by 20.9% during the 1st quarter. CWM LLC now owns 7,312 shares of the financial services provider's stock worth $141,000 after acquiring an additional 1,263 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Price Performance

Shares of COLB traded up $0.26 during midday trading on Monday, reaching $27.16. 1,070,258 shares of the stock were exchanged, compared to its average volume of 2,328,155. Columbia Banking System, Inc. has a twelve month low of $17.08 and a twelve month high of $28.11. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 11.66 and a beta of 0.64. The business's 50-day moving average price is $24.67 and its 200 day moving average price is $21.65.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The business had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Columbia Banking System, Inc. will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.30%. The ex-dividend date was Friday, August 23rd. Columbia Banking System's dividend payout ratio (DPR) is 61.80%.

Analysts Set New Price Targets

COLB has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Barclays raised their target price on shares of Columbia Banking System from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, September 27th. Truist Financial lowered their price target on Columbia Banking System from $29.00 to $28.00 and set a "hold" rating for the company in a report on Friday, September 20th. Stephens lifted their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an "equal weight" rating in a research report on Friday, July 26th. Finally, Wedbush upgraded Columbia Banking System from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $28.00 to $31.00 in a report on Tuesday, September 24th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of "Hold" and a consensus target price of $25.81.

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.