Columbia Banking System, Inc. (NASDAQ:COLB) Stake Boosted by State Street Corp

State Street Corp increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 74.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,754,433 shares of the financial services provider’s stock after buying an additional 1,179,254 shares during the period. State Street Corp owned 4.72% of Columbia Banking System worth $107,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Columbia Banking System by 26.8% in the first quarter. Bank of America Corp DE now owns 341,184 shares of the financial services provider’s stock worth $13,302,000 after buying an additional 72,021 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Columbia Banking System by 7.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 353,604 shares of the financial services provider’s stock worth $13,788,000 after buying an additional 25,644 shares during the last quarter. BlackRock Inc. boosted its position in shares of Columbia Banking System by 49,309.5% in the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after buying an additional 7,192,784 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Columbia Banking System during the first quarter worth approximately $4,916,000. Finally, Citadel Advisors LLC bought a new position in shares of Columbia Banking System during the first quarter worth approximately $318,000. Institutional investors own 94.53% of the company’s stock.

Columbia Banking System, Inc. (COLB) opened at 39.74 on Wednesday. The company has a market cap of $2.32 billion, a PE ratio of 20.48 and a beta of 1.22. Columbia Banking System, Inc. has a 12 month low of $27.61 and a 12 month high of $45.68. The company has a 50 day moving average price of $38.91 and a 200-day moving average price of $40.09.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.50. The business had revenue of $111.53 million during the quarter, compared to analyst estimates of $110.72 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.90%. During the same period last year, the business earned $0.40 EPS. Equities analysts predict that Columbia Banking System, Inc. will post $2.04 earnings per share for the current fiscal year.

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A number of brokerages recently commented on COLB. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research report on Friday, June 16th. Zacks Investment Research cut Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research report on Tuesday, May 9th. Piper Jaffray Companies decreased their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. Finally, DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday, March 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.80.

In other Columbia Banking System news, CFO Clint Stein sold 8,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $40.09, for a total transaction of $320,720.00. Following the transaction, the chief financial officer now directly owns 22,877 shares in the company, valued at approximately $917,138.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.23% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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