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

Sippican Capital Advisors boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,842 shares of the financial services provider’s stock after acquiring an additional 2,815 shares during the quarter. Columbia Banking System accounts for approximately 1.9% of Sippican Capital Advisors’ portfolio, making the stock its 10th largest holding. Sippican Capital Advisors’ holdings in Columbia Banking System were worth $2,591,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System raised its position in Columbia Banking System by 1.0% during the first quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 500 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Columbia Banking System by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider’s stock valued at $1,464,000 after purchasing an additional 500 shares in the last quarter. Xponance Inc. raised its position in Columbia Banking System by 2.2% during the first quarter. Xponance Inc. now owns 24,313 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 517 shares in the last quarter. Mengis Capital Management Inc. lifted its stake in Columbia Banking System by 1.1% in the second quarter. Mengis Capital Management Inc. now owns 50,511 shares of the financial services provider’s stock worth $1,181,000 after purchasing an additional 529 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Columbia Banking System by 26.6% in the second quarter. Blue Trust Inc. now owns 2,718 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 571 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%

Shares of NASDAQ:COLB opened at $24.90 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 9.88 and a beta of 0.60. The company has a 50-day moving average price of $25.94 and a 200-day moving average price of $24.36. Columbia Banking System, Inc. has a 12 month low of $19.61 and a 12 month high of $32.85.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.36 per share. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.8%. Columbia Banking System’s payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COLB. JPMorgan Chase & Co. lowered 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. Stephens raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price target for the company in a research note on Monday, August 4th. Barclays lowered 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. Cowen began coverage on shares of Columbia Banking System in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Finally, TD Cowen began coverage on shares of Columbia Banking System in a research note on Thursday, September 25th. They issued a “hold” rating and a $28.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.33.

About Columbia Banking System

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.