Legal & General Group Plc raised its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,489 shares of the financial services provider’s stock after purchasing an additional 2,412 shares during the quarter. Legal & General Group Plc owned 0.16% of Columbia Banking System worth $4,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flinton Capital Management LLC boosted 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. boosted 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 purchased a new stake in shares of Columbia Banking System during the 3rd quarter worth approximately $202,000. Riverhead Capital Management LLC boosted 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. Finally, Shelton Capital Management purchased a new stake in shares of Columbia Banking System during the 2nd quarter worth approximately $230,000. 76.61% of the stock is currently owned by institutional investors.

In related news, CAO Barry Ray sold 750 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at approximately $527,287.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.23% of the stock is currently owned by corporate insiders.

Shares of Columbia Banking System Inc (COLB) opened at $45.29 on Tuesday. The company has a market capitalization of $3,250.08, a P/E ratio of 20.23, a PEG ratio of 2.02 and a beta of 1.24. Columbia Banking System Inc has a 52 week low of $35.67 and a 52 week high of $48.06.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The business had revenue of $126.00 million for the quarter, compared to analyst estimates of $119.16 million. Columbia Banking System had a return on equity of 12.28% and a net margin of 32.36%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. analysts anticipate that Columbia Banking System Inc will post 2.2 earnings per share for the current year.

Several equities research 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 $48.00 price target on the stock in a research note on Tuesday, October 31st. Royal Bank of Canada reissued a “hold” rating and set a $42.00 price target on shares of Columbia Banking System in a research note on Friday, September 8th. DA Davidson reissued a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Finally, BidaskClub lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $45.60.

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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.

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

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