Columbia Banking System Inc. (NASDAQ:COLB) shares saw strong trading volume on Thursday . 248,063 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 240,650 shares.The stock last traded at $29.80 and had previously closed at $29.39.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday, April 29th. Piper Jaffray Cos. lowered shares of Columbia Banking System from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Friday, April 29th.

The company has a market cap of $1.74 billion and a price-to-earnings ratio of 18.14. The firm has a 50-day moving average of $28.63 and a 200 day moving average of $29.36.

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

Several large investors recently modified their holdings of the stock. Mutual of America Capital Management LLC boosted its stake in shares of Columbia Banking System by 9.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 45,926 shares of the financial services provider’s stock worth $1,493,000 after buying an additional 3,929 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Columbia Banking System by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 106,946 shares of the financial services provider’s stock worth $3,477,000 after buying an additional 1,779 shares in the last quarter. Comerica Bank boosted its stake in shares of Columbia Banking System by 3.3% in the fourth quarter. Comerica Bank now owns 119,072 shares of the financial services provider’s stock worth $3,535,000 after buying an additional 3,846 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Columbia Banking System by 5.1% in the fourth quarter. Rhumbline Advisers now owns 118,594 shares of the financial services provider’s stock worth $3,855,000 after buying an additional 5,760 shares in the last quarter. Finally, Monarch Partners Asset Management LLC boosted its stake in shares of Columbia Banking System by 80.1% in the fourth quarter. Monarch Partners Asset Management LLC now owns 123,111 shares of the financial services provider’s stock worth $4,002,000 after buying an additional 54,736 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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