Skylands Capital LLC lessened its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 22.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,800 shares of the financial services provider’s stock after selling 3,350 shares during the quarter. Skylands Capital LLC’s holdings in Columbia Banking System were worth $513,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Flinton Capital Management LLC lifted its position in shares of Columbia Banking System by 98.1% in the second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,648 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Columbia Banking System by 2.1% in the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 73 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Columbia Banking System in the third quarter worth $202,000. Janney Montgomery Scott LLC bought a new stake in shares of Columbia Banking System in the third quarter worth $204,000. Finally, Riverhead Capital Management LLC lifted its position in shares of Columbia Banking System by 102.4% in the second quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 2,662 shares in the last quarter. 76.62% of the stock is currently owned by institutional investors and hedge funds.
In related news, CAO Barry Ray sold 750 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $46.87, for a total transaction of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares in the company, valued at $527,287.50. The sale was disclosed in a filing with the SEC, which is available through this link. 1.23% of the stock is currently owned by insiders.
A number of brokerages have recently commented on COLB. BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price objective on shares of Columbia Banking System in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Monday, January 8th. Finally, DA Davidson reissued a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Columbia Banking System has an average rating of “Buy” and a consensus target price of $47.40.
Columbia Banking System Inc (COLB) opened at $45.94 on Thursday. The firm has a market cap of $3,328.19, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.81 and a beta of 1.25. Columbia Banking System Inc has a fifty-two week low of $35.67 and a fifty-two week high of $48.06.
Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. The business had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. equities research analysts forecast that Columbia Banking System Inc will post 2.2 EPS for the current fiscal year.
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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.
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