105,793 Shares in Columbia Banking System, Inc. $COLB Purchased by Mirabella Financial Services LLP

Mirabella Financial Services LLP purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 105,793 shares of the financial services provider’s stock, valued at approximately $2,723,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wedbush Securities Inc. boosted its holdings in shares of Columbia Banking System by 4.5% during the third quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 423 shares during the period. Peregrine Asset Advisers Inc. increased its stake in shares of Columbia Banking System by 4.9% during the third quarter. Peregrine Asset Advisers Inc. now owns 9,774 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 457 shares during the period. Quadrant Capital Group LLC lifted its holdings in Columbia Banking System by 1.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 37,906 shares of the financial services provider’s stock worth $976,000 after purchasing an additional 466 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Columbia Banking System by 19.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,202 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 523 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Columbia Banking System by 4.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,758 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 534 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen reaffirmed a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their target price on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Stephens boosted their target price 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. DA Davidson upped their price target on shares of Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of Columbia Banking System from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average price target of $32.04.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $26.35 on Tuesday. The business has a fifty day moving average price of $29.43 and a two-hundred day moving average price of $27.82. The stock has a market capitalization of $7.79 billion, a PE ratio of 11.66 and a beta of 0.60. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.70.

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

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s dividend payout ratio is 65.49%.

Insider Buying and Selling at Columbia Banking System

In related news, VP Torran B. Nixon sold 2,241 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $63,308.25. Following the completion of the sale, the vice president directly owned 100,469 shares in the company, valued at $2,838,249.25. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven R. Gardner sold 13,725 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The SEC filing for this sale provides additional information. Insiders have sold 18,206 shares of company stock valued at $531,859 in the last ninety days. Insiders own 0.68% of the company’s stock.

About Columbia Banking System

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.