Mason Street Advisors LLC purchased a new position in Columbia Banking System Inc. (NASDAQ:COLB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,339 shares of the financial services provider’s stock, valued at approximately $318,000.
Several other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Columbia Banking System by 738.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,582,300 shares of the financial services provider’s stock worth $47,343,000 after buying an additional 1,393,490 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Columbia Banking System during the second quarter worth about $22,610,000. Franklin Resources Inc. raised its stake in Columbia Banking System by 21.1% in the second quarter. Franklin Resources Inc. now owns 2,562,569 shares of the financial services provider’s stock worth $71,906,000 after buying an additional 446,800 shares during the period. Vanguard Group Inc. raised its stake in Columbia Banking System by 5.3% in the second quarter. Vanguard Group Inc. now owns 4,725,629 shares of the financial services provider’s stock worth $132,602,000 after buying an additional 237,690 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in Columbia Banking System by 52.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 614,022 shares of the financial services provider’s stock worth $17,229,000 after buying an additional 211,400 shares during the period. 89.54% of the stock is owned by institutional investors.
Shares of Columbia Banking System Inc. (NASDAQ:COLB) opened at 32.93 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 19.26 and a beta of 1.59. Columbia Banking System Inc. has a one year low of $26.17 and a one year high of $36.27. The stock’s 50 day moving average price is $32.66 and its 200 day moving average price is $30.36.
Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.01. Columbia Banking System had a return on equity of 8.21% and a net margin of 23.63%. During the same period last year, the firm earned $0.38 EPS. On average, equities analysts anticipate that Columbia Banking System Inc. will post $1.76 earnings per share for the current fiscal year.
A number of research firms have issued reports on COLB. Zacks Investment Research raised Columbia Banking System from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, September 28th. Keefe, Bruyette & Woods lowered Columbia Banking System from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.00.
About Columbia Banking System
Columbia Banking System, Inc is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho.
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