Pinebridge Investments L.P. raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,058 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Pinebridge Investments L.P. owned about 0.07% of Columbia Banking System worth $1,556,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COLB. BlackRock Inc. boosted its stake in Columbia Banking System by 49,309.5% in the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock valued at $281,015,000 after acquiring an additional 7,192,784 shares during the last quarter. State Street Corp boosted its stake in Columbia Banking System by 74.9% in the first quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock valued at $107,399,000 after acquiring an additional 1,179,254 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Columbia Banking System by 109.9% in the first quarter. Neuberger Berman Group LLC now owns 1,302,419 shares of the financial services provider’s stock valued at $50,781,000 after acquiring an additional 681,910 shares during the last quarter. Tributary Capital Management LLC bought a new position in Columbia Banking System in the second quarter valued at approximately $12,655,000. Finally, Franklin Resources Inc. boosted its stake in Columbia Banking System by 11.2% in the second quarter. Franklin Resources Inc. now owns 2,708,796 shares of the financial services provider’s stock valued at $107,946,000 after acquiring an additional 273,200 shares during the last quarter. 96.24% of the stock is currently owned by hedge funds and other institutional investors.

COLB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Columbia Banking System in a research note on Friday, June 16th. BidaskClub cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Columbia Banking System in a research note on Friday, July 28th. Finally, Piper Jaffray Companies raised shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $43.00 to $46.00 in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $44.40.

Columbia Banking System, Inc. (NASDAQ:COLB) opened at 40.02 on Monday. Columbia Banking System, Inc. has a 52 week low of $31.75 and a 52 week high of $45.68. The firm has a 50-day moving average of $37.64 and a 200-day moving average of $38.69. The company has a market capitalization of $2.34 billion, a PE ratio of 20.33 and a beta of 1.24.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The business had revenue of $110.30 million during the quarter, compared to analyst estimates of $112.27 million. During the same quarter last year, the company posted $0.44 earnings per share. Equities analysts expect that Columbia Banking System, Inc. will post $2.03 earnings per share for the current fiscal year.

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Columbia Banking System 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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