Charles Schwab Investment Management Inc. increased its position in Columbia Banking System Inc (NASDAQ:COLB) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 597,723 shares of the financial services provider’s stock after buying an additional 12,446 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.83% of Columbia Banking System worth $16,943,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc grew its position in shares of Columbia Banking System by 84.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,389 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 636 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Columbia Banking System by 103.7% during the 2nd quarter. Macquarie Group Ltd. now owns 2,544 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,295 shares during the last quarter. Captrust Financial Advisors raised its stake in Columbia Banking System by 71.8% in the 2nd quarter. Captrust Financial Advisors now owns 6,557 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 2,741 shares in the last quarter. Salzhauer Michael acquired a new stake in Columbia Banking System in the 2nd quarter worth about $206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Columbia Banking System by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,220 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 1,333 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors and hedge funds.
Columbia Banking System stock opened at $23.60 on Wednesday. The business has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $26.54. The company has a market cap of $1.69 billion, a P/E ratio of 11.46 and a beta of 0.94. Columbia Banking System Inc has a 52-week low of $19.11 and a 52-week high of $41.40. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07.
Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.27. The business had revenue of $159.11 million during the quarter, compared to the consensus estimate of $143.60 million. Columbia Banking System had a return on equity of 6.72% and a net margin of 23.46%. During the same period in the previous year, the company posted $0.71 EPS. Research analysts anticipate that Columbia Banking System Inc will post 1.62 EPS for the current fiscal year.
In related news, EVP Andy Mcdonald sold 3,073 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $30.90, for a total transaction of $94,955.70. Following the completion of the transaction, the executive vice president now directly owns 39,813 shares in the company, valued at approximately $1,230,221.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.
Several equities research analysts recently issued reports on COLB shares. Raymond James reaffirmed a “hold” rating on shares of Columbia Banking System in a report on Friday, September 18th. Piper Sandler began coverage on shares of Columbia Banking System in a report on Tuesday, June 16th. They set a “buy” rating and a $35.00 target price on the stock. BidaskClub downgraded shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 2nd. Finally, Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.75.
Columbia Banking System Company Profile
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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