Columbia Banking System, Inc. $COLB is Sippican Capital Advisors’ 10th Largest Position

Sippican Capital Advisors raised its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,842 shares of the financial services provider’s stock after buying an additional 2,815 shares during the period. Columbia Banking System accounts for 1.9% of Sippican Capital Advisors’ investment portfolio, making the stock its 10th biggest holding. Sippican Capital Advisors owned 0.05% of Columbia Banking System worth $2,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COLB. Geneos Wealth Management Inc. increased its stake in Columbia Banking System by 194.6% in the 1st 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. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Columbia Banking System during the 1st quarter worth approximately $37,000. UMB Bank n.a. increased its stake in shares of Columbia Banking System by 141.3% during the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 958 shares during the last quarter. Financial Harvest LLC purchased a new stake in shares of Columbia Banking System during the 1st quarter worth approximately $53,000. Finally, Parallel Advisors LLC increased its stake in shares of Columbia Banking System by 41.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 3.0%

Columbia Banking System stock opened at $24.90 on Friday. The firm has a 50 day simple moving average of $25.94 and a 200 day simple moving average of $24.36. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $32.85. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.88 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The firm had revenue of $348.47 million during the quarter. On average, equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup restated a “neutral” rating and set a $26.00 price target (up previously from $22.00) on shares of Columbia Banking System in a research note on Monday, July 28th. Barclays decreased their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Banking System in a research note on Saturday, September 27th. JPMorgan Chase & Co. decreased their price target on shares of Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, July 1st. Finally, Stephens upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System has an average rating of “Hold” and an average target price of $29.33.

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.