Parametric Portfolio Associates LLC Has $11.74 Million Stake in Columbia Banking System, Inc. (COLB)

Parametric Portfolio Associates LLC grew its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 42.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 294,701 shares of the financial services provider’s stock after buying an additional 87,133 shares during the quarter. Parametric Portfolio Associates LLC owned 0.51% of Columbia Banking System worth $11,744,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. First National Bank of Omaha acquired a new position in shares of Columbia Banking System in the 2nd quarter valued at about $1,066,000. Tudor Investment Corp ET AL lifted its holdings in shares of Columbia Banking System by 70.4% in the 1st quarter. Tudor Investment Corp ET AL now owns 9,313 shares of the financial services provider’s stock valued at $363,000 after buying an additional 3,849 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Columbia Banking System by 33.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 191,575 shares of the financial services provider’s stock valued at $7,634,000 after buying an additional 47,708 shares during the period. BlackRock Inc. lifted its holdings in shares of Columbia Banking System by 49,309.5% in the 1st quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock valued at $281,015,000 after buying an additional 7,192,784 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Columbia Banking System by 7.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 353,604 shares of the financial services provider’s stock valued at $13,788,000 after buying an additional 25,644 shares during the period. 96.24% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on COLB shares. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a report on Friday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $42.00 price target on shares of Columbia Banking System in a report on Friday, September 8th. Finally, Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $43.00 to $46.00 in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned 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 target price of $44.40.

Columbia Banking System, Inc. (COLB) opened at 42.14 on Wednesday. The company has a 50-day moving average price of $39.03 and a 200-day moving average price of $38.97. Columbia Banking System, Inc. has a 12-month low of $31.75 and a 12-month high of $45.68. The firm has a market cap of $2.46 billion, a PE ratio of 21.40 and a beta of 1.26.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The business had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities analysts predict that Columbia Banking System, Inc. will post $2.03 earnings per share for the current 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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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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