Wells Fargo & Company MN Boosts Stake in Columbia Banking System Inc (COLB)

Wells Fargo & Company MN grew its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,047 shares of the financial services provider’s stock after purchasing an additional 22,543 shares during the period. Wells Fargo & Company MN owned approximately 0.34% of Columbia Banking System worth $10,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Flinton Capital Management LLC boosted its position in shares of Columbia Banking System by 98.1% during the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,648 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Columbia Banking System by 2.1% during the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Columbia Banking System during the 3rd quarter valued at about $202,000. Riverhead Capital Management LLC boosted its position in shares of Columbia Banking System by 102.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 2,662 shares in the last quarter. Finally, Shelton Capital Management bought a new position in shares of Columbia Banking System during the 2nd quarter valued at about $230,000. Institutional investors own 76.23% of the company’s stock.

Shares of Columbia Banking System Inc (NASDAQ COLB) opened at $44.64 on Wednesday. Columbia Banking System Inc has a 52 week low of $35.67 and a 52 week high of $48.06. The company has a market cap of $3,268.32, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The company had revenue of $126.00 million during the quarter, compared to analyst estimates of $119.16 million. During the same period in the prior year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up 16.9% on a year-over-year basis. sell-side analysts predict that Columbia Banking System Inc will post 2.2 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. BidaskClub lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Royal Bank of Canada reaffirmed a “hold” rating and set a $42.00 price objective on shares of Columbia Banking System in a research note on Friday, September 8th. Finally, Zacks Investment Research lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.60.

In other news, CAO Barry Ray sold 750 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the sale, the chief accounting officer now directly owns 11,250 shares of the company’s stock, valued at $527,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is currently owned by corporate insiders.

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Columbia Banking System Company 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.

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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