Savant Capital LLC Grows Stock Holdings in Columbia Banking System, Inc. $COLB

Savant Capital LLC increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 78.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,234 shares of the financial services provider’s stock after purchasing an additional 30,537 shares during the period. Savant Capital LLC’s holdings in Columbia Banking System were worth $1,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in shares of Columbia Banking System by 612.8% during the 3rd quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 864 shares in the last quarter. West Oak Capital LLC purchased a new stake in Columbia Banking System during the third quarter worth approximately $28,000. Quent Capital LLC acquired a new position in Columbia Banking System in the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its holdings in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Finally, First Horizon Corp purchased a new position in Columbia Banking System in the third quarter valued at approximately $31,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $32.07 on Monday. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $32.23. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 14.19 and a beta of 0.61. The company has a 50-day simple moving average of $28.94 and a 200-day simple moving average of $27.02.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The firm had revenue of $715.00 million during the quarter, compared to the consensus estimate of $693.23 million. During the same period in the prior year, the business earned $0.71 EPS. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.37 dividend. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, November 28th. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%. Columbia Banking System’s payout ratio is 65.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Columbia Banking System from $34.50 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Wall Street Zen upgraded shares of Columbia Banking System to a “hold” rating in a research note on Saturday, December 27th. UBS Group reiterated a “neutral” rating and set a $33.00 target price on shares of Columbia Banking System in a research report on Wednesday. Finally, TD Cowen reissued a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average target price of $31.88.

Insiders Place Their Bets

In other Columbia Banking System news, Director Steven R. Gardner sold 13,725 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is currently owned by company insiders.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.