Copper Rock Capital Partners LLC increased its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 926,341 shares of the financial services provider’s stock after purchasing an additional 32,124 shares during the quarter. Columbia Banking System makes up 2.5% of Copper Rock Capital Partners LLC’s holdings, making the stock its 7th largest holding. Copper Rock Capital Partners LLC’s holdings in Columbia Banking System were worth $40,796,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Flinton Capital Management LLC grew its stake 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 worth $133,000 after acquiring an additional 1,648 shares in the last quarter. D.A. Davidson & CO. grew its stake 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 worth $144,000 after acquiring 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 worth approximately $202,000. Janney Montgomery Scott LLC bought a new position in shares of Columbia Banking System during the 3rd quarter worth approximately $204,000. Finally, Riverhead Capital Management LLC grew its stake 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 worth $210,000 after acquiring an additional 2,662 shares in the last quarter. 76.23% of the stock is owned by institutional investors.
In related news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.23% of the stock is currently owned by company insiders.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $119.16 million. During the same period last year, the business earned $0.47 EPS. The business’s quarterly revenue was up 16.9% on a year-over-year basis. analysts anticipate that Columbia Banking System Inc will post 2.2 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on COLB. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday. DA Davidson reaffirmed a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Finally, BidaskClub cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $46.00.
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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.
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