Columbia Banking System Inc. (NASDAQ:COLB)’s share price gapped up before the market opened on Friday . The stock had previously closed at $26.84, but opened at $27.19. Columbia Banking System shares last traded at $28.01, with a volume of 49,188 shares.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Piper Jaffray Cos. lowered Columbia Banking System from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Friday, April 29th.

The stock has a market capitalization of $1.62 billion and a PE ratio of 16.84. The company’s 50 day moving average price is $28.73 and its 200 day moving average price is $29.47.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, April 28th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.09. Analysts forecast that Columbia Banking System Inc. will post $1.75 EPS for the current year.

Several large investors have made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Columbia Banking System by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,468,305 shares of the financial services provider’s stock worth $80,245,000 after buying an additional 90,933 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Columbia Banking System by 0.7% in the fourth quarter. Jennison Associates LLC now owns 2,624,890 shares of the financial services provider’s stock worth $85,335,000 after buying an additional 17,835 shares in the last quarter. WBI Investments Inc. acquired a new stake in shares of Columbia Banking System during the fourth quarter worth $4,068,000. Fiduciary Management Associates LLC increased its stake in shares of Columbia Banking System by 6.8% in the fourth quarter. Fiduciary Management Associates LLC now owns 797,206 shares of the financial services provider’s stock worth $25,917,000 after buying an additional 51,050 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Columbia Banking System by 9.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,742,144 shares of the financial services provider’s stock worth $56,637,000 after buying an additional 156,373 shares in the last quarter.

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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