Wells Fargo & Company MN lifted its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 26.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,884 shares of the financial services provider’s stock after buying an additional 65,837 shares during the period. Wells Fargo & Company MN owned about 0.43% of Columbia Banking System worth $13,722,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Sei Investments Co. raised its stake in shares of Columbia Banking System by 10.0% during the 3rd quarter. Sei Investments Co. now owns 13,070 shares of the financial services provider’s stock worth $551,000 after buying an additional 1,183 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Columbia Banking System by 79.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,476 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Columbia Banking System by 33.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 7,052 shares of the financial services provider’s stock worth $296,000 after buying an additional 1,765 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Columbia Banking System by 20.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 11,902 shares of the financial services provider’s stock worth $517,000 after buying an additional 2,032 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Columbia Banking System by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 114,489 shares of the financial services provider’s stock worth $4,823,000 after acquiring an additional 2,412 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.
In other Columbia Banking System news, CFO Clint Stein sold 2,300 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $44.16, for a total transaction of $101,568.00. Following the sale, the chief financial officer now owns 26,610 shares in the company, valued at approximately $1,175,097.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.23% of the stock is currently owned by corporate insiders.
COLB has been the topic of a number of research reports. Royal Bank of Canada restated a “hold” rating and issued a $46.00 price target on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray restated a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a report on Tuesday, January 9th. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, March 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.33.
NASDAQ:COLB traded down $1.05 during trading hours on Friday, reaching $41.95. 261,343 shares of the company traded hands, compared to its average volume of 307,547. The stock has a market cap of $3,063.99, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 0.82. Columbia Banking System Inc has a 1-year low of $35.67 and a 1-year high of $48.06.
Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The company had revenue of $135.40 million for the quarter, compared to analyst estimates of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. Columbia Banking System’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. equities research analysts predict that Columbia Banking System Inc will post 2.8 earnings per share for the current fiscal year.
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Columbia Banking System Company Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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