Oak Thistle LLC Invests $2.19 Million in Columbia Banking System, Inc. $COLB

Key Points

• Oak Thistle LLC purchased a new position of 78,440 shares in Columbia Banking System (NASDAQ:COLB) in Q4, valued at approximately $2.19 million.
• Columbia beat Q4 expectations with $0.82 EPS vs. $0.72 consensus and revenue of $715M, and it recently paid a quarterly dividend that annualizes to $1.48 for a 5.3% yield (payout ratio 65.49%).
• Analysts carry an average "Hold" rating with a price target of $31.58; the stock opened around $27.68 and has a 12‑month range of $19.96–$32.70.

Oak Thistle LLC purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 78,440 shares of the financial services provider's stock, valued at approximately $2,192,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC grew its position in 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 valued at $26,000 after buying an additional 864 shares in the last quarter. West Oak Capital LLC bought a new position in Columbia Banking System in the 3rd quarter valued at about $28,000. Quent Capital LLC bought a new position in Columbia Banking System in the 3rd quarter valued at about $29,000. First Horizon Corp bought a new position in Columbia Banking System in the 3rd quarter valued at about $31,000. Finally, Geneos Wealth Management Inc. grew its position 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 in the last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Trading Down 1.3%

Shares of NASDAQ COLB opened at $27.68 on Wednesday. Columbia Banking System, Inc. has a twelve month low of $19.96 and a twelve month high of $32.70. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 12.25 and a beta of 0.61. The firm has a 50-day moving average of $28.86 and a two-hundred day moving average of $27.91.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates 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 company 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 company earned $0.71 EPS. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, February 27th. Columbia Banking System's dividend payout ratio is presently 65.49%.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 2,240 shares of the company's stock in a transaction dated 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 directly owned 98,229 shares of the company's stock, valued at approximately $2,833,906.65. This represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven R. Gardner sold 13,725 shares of the company's stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $29.43, for a total transaction of $403,926.75. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,354 shares of company stock valued at $561,971 over the last three months. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COLB. UBS Group began coverage on shares of Columbia Banking System in a research report on Tuesday. They issued a "neutral" rating and a $30.00 target price for the company. TD Cowen reiterated a "hold" rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Weiss Ratings upgraded shares of Columbia Banking System from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 1st. Piper Sandler decreased their target price on shares of Columbia Banking System from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Thursday, April 2nd. Finally, Royal Bank Of Canada increased their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a "sector perform" rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $31.58.

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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