Westwood Holdings Group Inc. reduced its stake in Columbia Banking System Inc (NASDAQ:COLB) by 14.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 827,894 shares of the financial services provider’s stock after selling 136,662 shares during the period. Westwood Holdings Group Inc. owned 1.14% of Columbia Banking System worth $29,953,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of COLB. Advisors Preferred LLC bought a new position in shares of Columbia Banking System in the 2nd quarter worth $26,000. Toronto Dominion Bank boosted its holdings in Columbia Banking System by 48.7% during the first quarter. Toronto Dominion Bank now owns 1,005 shares of the financial services provider’s stock worth $33,000 after buying an additional 329 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Columbia Banking System during the second quarter worth about $86,000. Quantamental Technologies LLC boosted its holdings in Columbia Banking System by 205.5% during the second quarter. Quantamental Technologies LLC now owns 2,982 shares of the financial services provider’s stock worth $108,000 after buying an additional 2,006 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Columbia Banking System by 32.1% during the second quarter. Captrust Financial Advisors now owns 3,995 shares of the financial services provider’s stock worth $145,000 after buying an additional 970 shares during the last quarter. Institutional investors and hedge funds own 89.43% of the company’s stock.
COLB stock traded up $0.31 during midday trading on Friday, hitting $37.10. 478,703 shares of the company’s stock were exchanged, compared to its average volume of 272,139. The stock’s fifty day moving average price is $35.09 and its 200-day moving average price is $35.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $2.70 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. Columbia Banking System Inc has a one year low of $30.65 and a one year high of $41.05.
Several research analysts recently weighed in on COLB shares. Royal Bank of Canada set a $38.00 price objective on shares of Columbia Banking System and gave the stock a “hold” rating in a research note on Friday, July 26th. BidaskClub raised shares of Columbia Banking System from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, ValuEngine raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $41.71.
About Columbia Banking System
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.
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