Los Angeles Capital Management LLC Acquires Shares of 162,028 Columbia Banking System, Inc. (NASDAQ:COLB)

Los Angeles Capital Management LLC bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 162,028 shares of the financial services provider’s stock, valued at approximately $4,231,000. Los Angeles Capital Management LLC owned 0.08% of Columbia Banking System at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Columbia Banking System by 0.3% in the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock worth $4,583,000 after buying an additional 458 shares in the last quarter. Sippican Capital Advisors increased its stake in shares of Columbia Banking System by 0.5% in the third quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock worth $2,903,000 after acquiring an additional 552 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 709 shares in the last quarter. Bleakley Financial Group LLC boosted its position in Columbia Banking System by 2.9% during the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 718 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Down 0.4 %

Shares of NASDAQ COLB opened at $31.38 on Wednesday. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $31.86. The company has a market cap of $6.58 billion, a P/E ratio of 13.58 and a beta of 0.62. The business’s 50 day moving average is $26.70 and its two-hundred day moving average is $23.22.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts expect that Columbia Banking System, Inc. will post 2.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COLB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Truist Financial boosted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Raymond James raised their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Profile

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.