Prudential Financial Inc. boosted its position in Columbia Banking System Inc. (NASDAQ:COLB) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 140,226 shares of the financial services provider’s stock after buying an additional 8,660 shares during the period. Prudential Financial Inc. owned 0.24% of Columbia Banking System worth $3,935,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COLB. BlackRock Inc. raised its position in Columbia Banking System by 121.9% in the first quarter. BlackRock Inc. now owns 3,899 shares of the financial services provider’s stock worth $116,000 after buying an additional 2,142 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Columbia Banking System during the second quarter valued at about $112,000. Bank of Montreal Can bought a new position in Columbia Banking System during the second quarter valued at about $153,000. Naples Global Advisors LLC increased its position in Columbia Banking System by 14.1% in the second quarter. Naples Global Advisors LLC now owns 7,875 shares of the financial services provider’s stock valued at $221,000 after buying an additional 975 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Columbia Banking System by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,081 shares of the financial services provider’s stock valued at $227,000 after buying an additional 977 shares during the last quarter. 89.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Columbia Banking System Inc. (NASDAQ:COLB) opened at 31.85 on Tuesday. Columbia Banking System Inc. has a 52 week low of $26.17 and a 52 week high of $36.27. The company has a market capitalization of $1.85 billion, a PE ratio of 18.63 and a beta of 1.59. The firm’s 50-day moving average is $32.66 and its 200 day moving average is $30.48.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Columbia Banking System had a net margin of 23.63% and a return on equity of 8.21%. During the same quarter last year, the firm posted $0.38 earnings per share. On average, analysts anticipate that Columbia Banking System Inc. will post $1.76 earnings per share for the current fiscal year.
COLB has been the topic of several research reports. Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Keefe, Bruyette & Woods cut shares of Columbia Banking System from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $33.00.
Columbia Banking System Company Profile
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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