Clifford Capital Partners LLC Increases Stock Position in Columbia Banking System, Inc. $COLB

Key Points

• Clifford Capital Partners LLC increased its stake in Columbia Banking System by 74.9% in Q3 to 551,892 shares (about $14.2M), making COLB its 26th largest holding.
• Columbia beat quarterly estimates with EPS of $0.82 (vs. $0.72) and revenue of $715M (vs. $693M), and announced a quarterly dividend of $0.37 (annualized $1.48), a 5.6% yield.
• Institutional investors own 92.53% of the stock; consensus analyst rating is "Hold" with an average target of $32.04, though several firms have raised targets to the $36–$37 range and issued Buy/Overweight ratings.

Clifford Capital Partners LLC raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 74.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 551,892 shares of the financial services provider's stock after purchasing an additional 236,295 shares during the quarter. Columbia Banking System accounts for about 2.5% of Clifford Capital Partners LLC's holdings, making the stock its 26th biggest holding. Clifford Capital Partners LLC owned approximately 0.18% of Columbia Banking System worth $14,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Columbia Banking System Stock Down 0.7%

Shares of NASDAQ:COLB opened at $26.23 on Friday. The stock has a market cap of $7.75 billion, a PE ratio of 11.61 and a beta of 0.60. The company's fifty day moving average is $29.48 and its 200 day moving average is $27.82. Columbia Banking System, Inc. has a 52 week low of $19.61 and a 52 week high of $32.70.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. The business had revenue of $715.00 million during the quarter, compared to analyst estimates of $693.23 million. During the same period in the prior year, the business posted $0.71 earnings per share. Sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, February 27th. Columbia Banking System's payout ratio is 65.49%.

Insider Activity

In other Columbia Banking System news, Director Steven R. Gardner sold 13,725 shares of Columbia Banking System stock in a transaction that occurred on Friday, January 30th. The stock was 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 can be accessed through the SEC website. Also, VP Torran B. Nixon sold 2,240 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.85, for a total value of $64,624.00. Following the completion of the sale, the vice president owned 98,229 shares of the company's stock, valued at $2,833,906.65. The trade was a 2.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,206 shares of company stock valued at $531,859 over the last 90 days. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COLB shares. Stephens lifted their price target on Columbia Banking System from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, January 23rd. Piper Sandler increased 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. Weiss Ratings raised Columbia Banking System from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. UBS Group restated a "neutral" rating and issued a $33.00 target price on shares of Columbia Banking System in a research report on Wednesday, February 4th. Finally, Wall Street Zen upgraded Columbia Banking System from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of "Hold" and an average target price of $32.04.

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.

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