Columbia Banking System, Inc. (NASDAQ:COLB) Position Reduced by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC lessened its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 381,471 shares of the financial services provider’s stock after selling 91,724 shares during the period. Keeley Teton Advisors LLC owned about 0.52% of Columbia Banking System worth $16,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COLB. Eagle Asset Management Inc. lifted its position in Columbia Banking System by 33.2% during the second quarter. Eagle Asset Management Inc. now owns 191,575 shares of the financial services provider’s stock valued at $7,634,000 after purchasing an additional 47,708 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in Columbia Banking System during the second quarter valued at approximately $2,841,000. Vanguard Group Inc. increased its holdings in Columbia Banking System by 1.6% during the second quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock valued at $217,272,000 after buying an additional 88,252 shares during the last quarter. AMG National Trust Bank increased its holdings in Columbia Banking System by 26.5% during the third quarter. AMG National Trust Bank now owns 26,267 shares of the financial services provider’s stock valued at $1,106,000 after buying an additional 5,498 shares during the last quarter. Finally, Scotia Capital Inc. increased its holdings in Columbia Banking System by 16.1% during the second quarter. Scotia Capital Inc. now owns 29,035 shares of the financial services provider’s stock valued at $1,157,000 after buying an additional 4,017 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

Shares of Columbia Banking System, Inc. (COLB) opened at $44.51 on Friday. The stock has a market cap of $3,168.28, a PE ratio of 19.72, a PEG ratio of 1.97 and a beta of 1.24. Columbia Banking System, Inc. has a twelve month low of $35.67 and a twelve month high of $48.06.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The company had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. equities analysts forecast that Columbia Banking System, Inc. will post 2.2 earnings per share for the current year.

In other Columbia Banking System news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.87, for a total transaction of $35,152.50. Following the transaction, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at approximately $527,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.

A number of analysts have recently issued reports on COLB shares. Zacks Investment Research raised shares of Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, October 31st. Royal Bank of Canada restated a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a research report on Friday, September 8th. DA Davidson restated a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. Finally, BidaskClub lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $45.60.

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Columbia Banking System 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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