Columbia Banking System Inc (NASDAQ:COLB) Position Increased by Morgan Stanley

Morgan Stanley raised its holdings in shares of Columbia Banking System Inc (NASDAQ:COLB) by 85.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 344,835 shares of the financial services provider’s stock after purchasing an additional 158,823 shares during the period. Morgan Stanley owned about 0.47% of Columbia Banking System worth $12,476,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COLB. Vanguard Group Inc. grew its position in shares of Columbia Banking System by 0.6% during the second quarter. Vanguard Group Inc. now owns 7,870,804 shares of the financial services provider’s stock worth $284,766,000 after acquiring an additional 49,422 shares during the last quarter. BlackRock Inc. grew its position in shares of Columbia Banking System by 1.0% during the second quarter. BlackRock Inc. now owns 10,873,862 shares of the financial services provider’s stock worth $393,416,000 after acquiring an additional 109,814 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Columbia Banking System by 8.7% during the second quarter. Scotia Capital Inc. now owns 8,879 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 713 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Columbia Banking System by 32.1% during the second quarter. Captrust Financial Advisors now owns 3,995 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 970 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new position in shares of Columbia Banking System during the second quarter worth about $212,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.

Several research firms have recently commented on COLB. Royal Bank of Canada set a $38.00 price target on shares of Columbia Banking System and gave the stock a “hold” rating in a research report on Friday, July 26th. Stephens restated a “hold” rating and set a $37.00 price target on shares of Columbia Banking System in a research report on Tuesday, October 1st. Zacks Investment Research lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. BidaskClub lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $41.43.

COLB stock opened at $36.09 on Friday. The company has a market capitalization of $2.63 billion, a P/E ratio of 14.61, a PEG ratio of 1.99 and a beta of 1.10. The company has a 50-day simple moving average of $35.76 and a 200 day simple moving average of $35.46. Columbia Banking System Inc has a fifty-two week low of $30.65 and a fifty-two week high of $41.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.23.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $150.76 million during the quarter, compared to the consensus estimate of $147.22 million. Columbia Banking System had a net margin of 30.92% and a return on equity of 9.20%. During the same quarter in the prior year, the company posted $0.57 earnings per share. Equities analysts anticipate that Columbia Banking System Inc will post 2.54 EPS for the current year.

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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