Sei Investments Co. boosted its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,942 shares of the financial services provider’s stock after buying an additional 973 shares during the period. Sei Investments Co.’s holdings in Columbia Banking System were worth $427,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Elkfork Partners LLC purchased a new position in Columbia Banking System during the fourth quarter worth $188,000. A.R.T. Advisors LLC purchased a new position in Columbia Banking System during the fourth quarter worth $221,000. Tudor Investment Corp Et Al purchased a new position in Columbia Banking System during the fourth quarter worth $244,000. Raymond James Financial Services Advisors Inc. purchased a new position in Columbia Banking System during the fourth quarter worth $248,000. Finally, AQR Capital Management LLC purchased a new position in Columbia Banking System during the fourth quarter worth $248,000. 95.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Columbia Banking System, Inc. (NASDAQ COLB) opened at 38.71 on Friday. The company has a market cap of $2.26 billion, a PE ratio of 19.95 and a beta of 1.22. The stock’s 50 day moving average price is $39.10 and its 200-day moving average price is $40.26. Columbia Banking System, Inc. has a 52 week low of $26.17 and a 52 week high of $45.68.
Columbia Banking System (NASDAQ:COLB) last announced its earnings results 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 analysts’ expectations of $110.72 million. Columbia Banking System had a return on equity of 8.90% and a net margin of 25.82%. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Analysts expect that Columbia Banking System, Inc. will post $2.04 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada reiterated a “hold” rating and set a $44.00 price objective on shares of Columbia Banking System in a research note on Tuesday, May 9th. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 price objective on shares of Columbia Banking System in a research note on Friday, June 16th. DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, March 16th. Finally, Piper Jaffray Companies dropped their price objective on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Columbia Banking System has an average 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 stock was sold at an average price of $40.09, for a total transaction of $320,720.00. Following the transaction, the chief financial officer now owns 22,877 shares of the company’s stock, valued at $917,138.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.23% of the stock is owned by insiders.
Columbia Banking System Company 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.
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