Schwab Charles Investment Management Inc. increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 7.8% during the first quarter, Holdings Channel reports. The institutional investor owned 353,604 shares of the financial services provider’s stock after buying an additional 25,644 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Columbia Banking System were worth $13,788,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of COLB. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Columbia Banking System by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock worth $218,000 after buying an additional 46 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Columbia Banking System during the fourth quarter worth approximately $221,000. 1st Global Advisors Inc. boosted its stake in shares of Columbia Banking System by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 6,179 shares of the financial services provider’s stock worth $241,000 after buying an additional 85 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Columbia Banking System during the first quarter worth approximately $242,000. Finally, Tudor Investment Corp Et Al bought a new stake in shares of Columbia Banking System during the fourth quarter worth approximately $244,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) opened at 39.40 on Monday. Columbia Banking System, Inc. has a 12 month low of $28.51 and a 12 month high of $45.68. The stock has a 50 day moving average price of $38.91 and a 200-day moving average price of $40.09. The company has a market capitalization of $2.30 billion, a PE ratio of 20.31 and a beta of 1.22.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $111.53 million for the quarter, compared to analyst estimates of $110.72 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.90%. During the same period last year, the company posted $0.40 earnings per share. Analysts forecast that Columbia Banking System, Inc. will post $2.04 EPS for the current year.

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A number of analysts have recently commented on COLB shares. Zacks Investment Research raised Columbia Banking System from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Monday, March 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research report on Friday, June 16th. Royal Bank Of Canada reissued a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research report on Tuesday, May 9th. Finally, Piper Jaffray Companies dropped their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Columbia Banking System currently has a consensus rating of “Hold” and a consensus price target of $43.80.

In related news, CFO Clint Stein sold 8,000 shares of Columbia Banking System stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $40.09, for a total transaction of $320,720.00. Following the transaction, the chief financial officer now directly owns 22,877 shares of the company’s stock, valued at $917,138.93. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.23% of the company’s stock.

About Columbia Banking System

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

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