Columbia Banking System, Inc. (NASDAQ:COLB) Holdings Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 1,507.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,855 shares of the financial services provider’s stock after buying an additional 4,553 shares during the quarter. Farther Finance Advisors LLC’s holdings in Columbia Banking System were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of COLB. Picton Mahoney Asset Management purchased a new position in Columbia Banking System in the second quarter valued at about $33,000. 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. GAMMA Investing LLC grew its stake in Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 4,115 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COLB. Keefe, Bruyette & Woods boosted their target price on Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Raymond James boosted their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wedbush upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Stephens upped their price target on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average target price of $27.12.

Columbia Banking System Stock Performance

Shares of COLB opened at $31.50 on Tuesday. The business’s fifty day moving average price is $26.56 and its two-hundred day moving average price is $23.13. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 13.64 and a beta of 0.62. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $31.86.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.62 EPS for the current year.

About Columbia Banking System

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.