TRUE Private Wealth Advisors Takes Position in Columbia Banking System Inc (COLB)

TRUE Private Wealth Advisors purchased a new stake in shares of Columbia Banking System Inc (NASDAQ:COLB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,282 shares of the financial services provider’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COLB. Flinton Capital Management LLC boosted its stake in 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 valued at $133,000 after acquiring an additional 1,648 shares during the last quarter. D.A. Davidson & CO. boosted its stake in 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 valued at $144,000 after acquiring an additional 73 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Columbia Banking System in the third quarter valued at approximately $202,000. Janney Montgomery Scott LLC bought a new position in Columbia Banking System in the third quarter valued at approximately $204,000. Finally, Riverhead Capital Management LLC boosted its stake in 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 valued at $210,000 after acquiring an additional 2,662 shares during the last quarter. 76.62% of the stock is currently owned by institutional investors and hedge funds.

COLB has been the topic of a number of recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Columbia Banking System in a research note 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 note on Monday, January 8th. DA Davidson reaffirmed a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Finally, BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $47.40.

In other news, CAO Barry Ray sold 750 shares of Columbia Banking System 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 of the company’s stock, valued at $527,287.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.23% of the company’s stock.

Columbia Banking System Inc (NASDAQ:COLB) opened at $45.63 on Friday. Columbia Banking System Inc has a 52 week low of $35.67 and a 52 week high of $48.06. The stock has a market cap of $3,331.86, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.82 and a beta of 1.25.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. equities analysts predict that Columbia Banking System Inc will post 2.24 EPS for the current fiscal year.

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Columbia Banking System Company Profile

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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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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