71,944 Shares in Columbia Banking System, Inc. $COLB Bought by Caprock Group LLC

Caprock Group LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,944 shares of the financial services provider’s stock, valued at approximately $1,952,000.

A number of other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC grew its stake 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 valued at $26,000 after purchasing an additional 864 shares during the period. West Oak Capital LLC purchased a new position in shares of Columbia Banking System in the third quarter worth approximately $28,000. Quent Capital LLC bought a new stake in Columbia Banking System during the third quarter valued at approximately $29,000. First Horizon Corp purchased a new stake in Columbia Banking System during the third quarter valued at approximately $31,000. Finally, Geneos Wealth Management Inc. increased its holdings in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after buying an additional 794 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Insider Activity at Columbia Banking System

In related news, Director Steven R. Gardner sold 13,725 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $29.43, for a total transaction of $403,926.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens boosted their price objective on shares of Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. UBS Group reissued a “neutral” rating and set a $33.00 price target on shares of Columbia Banking System in a report on Wednesday, February 4th. Barclays upped their price target on Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Piper Sandler lifted their price objective on Columbia Banking System from $34.50 to $36.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, Wall Street Zen raised shares of Columbia Banking System to a “hold” rating in a report on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.88.

Columbia Banking System Stock Performance

COLB stock opened at $31.49 on Friday. Columbia Banking System, Inc. has a one year low of $19.61 and a one year high of $32.70. The company’s fifty day moving average price is $29.31 and its 200-day moving average price is $27.24. The company has a market capitalization of $9.42 billion, a PE ratio of 13.93 and a beta of 0.61.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million during the quarter, compared to analysts’ expectations of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same period last year, the company posted $0.71 earnings per share. On average, research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, February 27th. Columbia Banking System’s payout ratio is 65.49%.

Columbia Banking System Profile

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.