JPMorgan Chase & Co. increased its stake in Columbia Banking System Inc. (NASDAQ:COLB) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,419 shares of the financial services provider’s stock after buying an additional 3,290 shares during the period. JPMorgan Chase & Co. owned 0.29% of Columbia Banking System worth $4,754,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in COLB. BlackRock Inc. increased its stake in Columbia Banking System by 121.9% in the first quarter. BlackRock Inc. now owns 3,899 shares of the financial services provider’s stock valued at $116,000 after buying an additional 2,142 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Columbia Banking System during the second quarter valued at about $112,000. Bank of Montreal Can acquired a new stake in Columbia Banking System during the second quarter valued at about $153,000. Naples Global Advisors LLC increased its stake in Columbia Banking System by 14.1% in the second quarter. Naples Global Advisors LLC now owns 7,875 shares of the financial services provider’s stock valued at $221,000 after buying an additional 975 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Columbia Banking System by 6.6% in the second quarter. Suntrust Banks Inc. now owns 9,537 shares of the financial services provider’s stock valued at $267,000 after buying an additional 587 shares during the last quarter. 89.55% of the stock is owned by institutional investors.
Columbia Banking System Inc. (NASDAQ:COLB) traded up 1.25% during midday trading on Friday, hitting $32.30. The stock had a trading volume of 12,928 shares. The firm has a 50 day moving average of $32.70 and a 200 day moving average of $30.44. Columbia Banking System Inc. has a 52 week low of $26.17 and a 52 week high of $36.27. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 18.89 and a beta of 1.59.
Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 28th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. Columbia Banking System had a net margin of 23.63% and a return on equity of 8.21%. During the same period in the prior year, the company posted $0.38 EPS. Equities research analysts predict that Columbia Banking System Inc. will post $1.76 EPS for the current year.
Several research firms recently issued reports on COLB. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Keefe, Bruyette & Woods downgraded shares of Columbia Banking System from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a report on Friday, July 29th. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $33.00.
About Columbia Banking System
Columbia Banking System, Inc is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho.