Several other institutional investors have also recently bought and sold shares of COLB. Louisiana State Employees Retirement System purchased a new position in Columbia Banking System stock during the third quarter for $1,086,000. Moody Aldrich Partners LLC increased its position in Columbia Banking System shares by 3.6% during the third quarter. Moody Aldrich Partners LLC now owns 347,093 shares of the financial services provider worth $10,028,000 after purchasing an additional 12,180 shares in the latest quarter. Carolina Wealth Advisors LLC boosted its position in Columbia Banking System shares by 1.2% during the third quarter. Carolina Wealth Advisors LLC now owns 80,130 shares of the financial services provider worth $2,315,000 after purchasing an additional 979 shares in the last quarter. Sawtooth Solutions LLC purchased a new position in Columbia Banking System stock during the third quarter for $350,000. Finally, Legal & General Group Plc strengthened its position in Columbia Banking System shares by 2.5% during the second quarter. Legal & General Group Plc now owns 227,153 shares of the financial services provider worth $6,508,000 after buying an additional 5,493 shares in the latest quarter.
Columbia’s banking system is trading down 1.2%
COLB opened at $29.17 on Monday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 10.16, and a beta of 0.70. Columbia Banking System, Inc. has a 12 month minimum of $26.97 and a 12 month maximum of $37.59. The company’s fifty-day simple moving average is $31.57 and its 200-day simple moving average is $30.81. The firm has a current ratio of 0.66, a quick ratio of 0.66, and a debt-to-equity ratio of 0.01.
Columbia Banking System (NASDAQ:COLB – Get Rating) last issued its quarterly earnings results on Thursday, October 20. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Columbia Banking System had a net margin of 31.38% and a return on equity of 10.51%. The firm had revenue of $189.12 million in the quarter, compared with analyst expectations of $179.55 million. As a group, research analysts anticipate Columbia Banking System, Inc. to post 3.36 EPS for the current fiscal year.
Analyst Rating Changes
Several brokerage firms have recently intervened in COLB. StockNews.com began coverage of Columbia Banking System shares in a research report on Wednesday, October 12. They set a “hold” rating on the stock. Royal Bank of Canada raised its price target on Columbia Banking System shares to $35.00 from $34.00 and gave the company a “Sector Performer” rating in a research report on Friday, October 21.
Columbia Banking System Profile
Columbia Banking System, Inc operates as the banking holding company for Columbia State Bank which provides a variety of banking services to small and medium-sized businesses, professionals and individuals in the United States. Offers personal banking products and services, including interest-bearing and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.
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