Inspire Advisors LLC Decreases Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Inspire Advisors LLC lowered its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,840 shares of the financial services provider’s stock after selling 1,563 shares during the period. Inspire Advisors LLC’s holdings in Columbia Banking System were worth $1,994,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Tidal Investments LLC increased its holdings in shares of Columbia Banking System by 1.1% in the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 464 shares during the period. Arizona State Retirement System increased its holdings in Columbia Banking System by 0.8% during the 4th quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock valued at $1,641,000 after purchasing an additional 469 shares during the period. 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 valued at $1,025,000 after purchasing an additional 544 shares during the period. Pacer Advisors Inc. increased its holdings in Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 612 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Columbia Banking System by 1.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider’s stock valued at $1,342,000 after purchasing an additional 621 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 2.1 %

COLB stock opened at $24.51 on Tuesday. The stock has a market capitalization of $5.14 billion, a PE ratio of 9.65 and a beta of 0.62. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $32.85. The stock’s 50 day simple moving average is $27.26 and its 200 day simple moving average is $27.49.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, research analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 5.88%. Columbia Banking System’s payout ratio is 56.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on COLB shares. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Stephens reduced their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Citigroup reduced their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Finally, Barclays upped their target price 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. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.38.

Insider Activity

In other news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, the vice president now directly owns 104,869 shares in the company, valued at $2,725,545.31. This represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.62% of the company’s stock.

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.