Keeley Teton Advisors LLC cut its stake in shares of Columbia Banking System Inc (NASDAQ:COLB) by 19.4% during the 3rd quarter, according to 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 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COLB. Flinton Capital Management LLC lifted its position in shares of Columbia Banking System by 98.1% in the second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,648 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Columbia Banking System by 2.1% in the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after buying an additional 73 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Columbia Banking System during the third quarter worth approximately $202,000. Riverhead Capital Management LLC increased its stake in Columbia Banking System by 102.4% during the second quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 2,662 shares during the last quarter. Finally, Shelton Capital Management bought a new stake in Columbia Banking System during the second quarter worth approximately $230,000. Institutional investors own 76.23% of the company’s stock.
COLB has been the topic of several analyst reports. DA Davidson reissued a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub cut Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a research note on Friday, September 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $45.60.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The firm had revenue of $126.00 million during the quarter, compared to analyst estimates of $119.16 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. equities research analysts predict that Columbia Banking System Inc will post 2.2 EPS for the current year.
In related news, CAO Barry Ray sold 750 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the transaction, the chief accounting officer now directly 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 SEC, which is available through this hyperlink. 1.23% of the stock is owned by corporate insiders.
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.
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