TRUE Private Wealth Advisors Buys Shares of 2,379 Columbia Banking System Inc (NASDAQ:COLB)

TRUE Private Wealth Advisors bought a new stake in shares of Columbia Banking System Inc (NASDAQ:COLB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,379 shares of the financial services provider’s stock, valued at approximately $86,000.

Other large investors have also made changes to their positions in the company. Keybank National Association OH increased its position in shares of Columbia Banking System by 44.5% during the second quarter. Keybank National Association OH now owns 38,519 shares of the financial services provider’s stock worth $1,394,000 after purchasing an additional 11,871 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Columbia Banking System by 12.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 647,923 shares of the financial services provider’s stock valued at $23,442,000 after buying an additional 69,893 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Columbia Banking System by 7.2% during the second quarter. Aperio Group LLC now owns 22,695 shares of the financial services provider’s stock valued at $821,000 after buying an additional 1,520 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Columbia Banking System by 13.4% during the second quarter. First Trust Advisors LP now owns 100,356 shares of the financial services provider’s stock valued at $3,631,000 after buying an additional 11,843 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Columbia Banking System by 20.2% during the second quarter. Fisher Asset Management LLC now owns 65,866 shares of the financial services provider’s stock valued at $2,383,000 after buying an additional 11,087 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

In other Columbia Banking System news, EVP Andy Mcdonald sold 3,481 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $35.06, for a total value of $122,043.86. Following the sale, the executive vice president now directly owns 36,264 shares of the company’s stock, valued at $1,271,415.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.



NASDAQ:COLB traded up $0.82 during mid-day trading on Friday, hitting $34.50. The company’s stock had a trading volume of 5,724 shares, compared to its average volume of 247,539. Columbia Banking System Inc has a 1 year low of $30.65 and a 1 year high of $43.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.94 and a beta of 1.07. The business’s fifty day moving average is $35.86 and its two-hundred day moving average is $35.66.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. Columbia Banking System had a net margin of 30.92% and a return on equity of 9.20%. The company had revenue of $150.76 million for the quarter, compared to analyst estimates of $147.22 million. During the same period in the prior year, the company earned $0.57 earnings per share. Analysts anticipate that Columbia Banking System Inc will post 2.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, August 6th. Columbia Banking System’s payout ratio is 45.34%.

A number of brokerages have recently weighed in on COLB. ValuEngine raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. BidaskClub lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada set a $38.00 price objective on shares of Columbia Banking System and gave the company a “hold” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Columbia Banking System presently has an average rating of “Hold” and an average price target of $41.71.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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

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