Scotia Capital Inc. raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 16.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,035 shares of the financial services provider’s stock after purchasing an additional 4,017 shares during the quarter. Scotia Capital Inc.’s holdings in Columbia Banking System were worth $1,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of COLB. Karp Capital Management Corp bought a new position in Columbia Banking System in the 1st quarter valued at $479,000. Sei Investments Co. raised its position in Columbia Banking System by 9.8% in the 1st quarter. Sei Investments Co. now owns 10,942 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 973 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Columbia Banking System by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 46 shares during the last quarter. Mason Street Advisors LLC raised its position in Columbia Banking System by 7.2% in the 1st quarter. Mason Street Advisors LLC now owns 13,602 shares of the financial services provider’s stock valued at $530,000 after purchasing an additional 919 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Columbia Banking System by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,547 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 96.24% of the company’s stock.

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COLB has been the subject of several research analyst reports. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, September 27th. Royal Bank Of Canada restated a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a research report on Friday, September 8th. Keefe, Bruyette & Woods restated a “hold” rating and set a $44.00 target price on shares of Columbia Banking System in a research report on Friday, June 16th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. Finally, BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.40.

Shares of Columbia Banking System, Inc. (NASDAQ COLB) traded down 0.62% during midday trading on Friday, hitting $41.51. The company had a trading volume of 250,898 shares. The stock’s 50-day moving average price is $39.45 and its 200-day moving average price is $39.04. Columbia Banking System, Inc. has a one year low of $31.75 and a one year high of $45.68. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 21.08 and a beta of 1.26.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 earnings per share 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 firm had revenue of $110.30 million for the quarter, compared to analyst estimates of $112.27 million. During the same period last year, the business earned $0.44 EPS. Analysts predict that Columbia Banking System, Inc. will post $2.03 EPS for the current year.

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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