Van ECK Associates Corp Has $1.37 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Van ECK Associates Corp boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 39.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,212 shares of the financial services provider’s stock after acquiring an additional 14,395 shares during the quarter. Van ECK Associates Corp’s holdings in Columbia Banking System were worth $1,366,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Columbia Banking System by 1,506.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,326 shares during the period. First Pacific Financial acquired a new stake in shares of Columbia Banking System during the 4th quarter valued at about $40,000. Headlands Technologies LLC acquired a new stake in shares of Columbia Banking System during the 4th quarter valued at about $42,000. GAMMA Investing LLC acquired a new stake in shares of Columbia Banking System during the 4th quarter valued at about $48,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Columbia Banking System during the 3rd quarter valued at about $78,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on COLB. Barclays lifted their price target on Columbia Banking System from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Raymond James lowered Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 price target for the company. in a report on Thursday, January 25th. Truist Financial reduced their price target on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 1st. UBS Group cut their price objective on Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating on the stock in a research note on Friday, January 26th. Finally, Royal Bank of Canada cut their price objective on Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.19.

Columbia Banking System Stock Down 0.8 %

Shares of NASDAQ COLB opened at $20.06 on Friday. The business’s 50 day moving average is $18.81 and its two-hundred day moving average is $21.14. The company has a market cap of $4.20 billion, a P/E ratio of 8.61 and a beta of 0.69. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.53 by $0.12. The company had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.37 earnings per share for the current fiscal year.

About Columbia Banking System

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.