North Reef Capital Management LP Makes New Investment in Columbia Banking System, Inc. $COLB

North Reef Capital Management LP acquired a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the financial services provider’s stock, valued at approximately $2,574,000.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in shares of Columbia Banking System by 612.8% during the 3rd quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 864 shares during the period. West Oak Capital LLC bought a new stake in shares of Columbia Banking System in the third quarter valued at about $28,000. Quent Capital LLC acquired a new stake in Columbia Banking System during the third quarter worth about $29,000. Geneos Wealth Management Inc. increased its stake in Columbia Banking System by 194.6% during 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 period. Finally, First Horizon Corp acquired a new position in Columbia Banking System in the 3rd quarter valued at approximately $31,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $26.35 on Tuesday. The company has a market capitalization of $7.79 billion, a PE ratio of 11.66 and a beta of 0.60. The company’s fifty day moving average is $29.43 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) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts forecast that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

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

Analyst Ratings Changes

COLB has been the subject of a number of research reports. Stephens raised their price objective on Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Wall Street Zen raised Columbia Banking System from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler lifted their price target on shares of Columbia Banking System from $34.50 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, TD Cowen reissued a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and an average target price of $32.04.

Insiders Place Their Bets

In other Columbia Banking System news, Director Steven R. Gardner sold 13,725 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Torran B. Nixon sold 2,240 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.85, for a total value of $64,624.00. Following the sale, the vice president owned 98,229 shares in the company, valued at $2,833,906.65. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,206 shares of company stock valued at $531,859 over 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.