Schwab Charles Investment Management Inc. boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 353,604 shares of the financial services provider’s stock after buying an additional 25,644 shares during the period. Schwab Charles Investment Management Inc. owned about 0.61% of Columbia Banking System worth $13,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Columbia Banking System by 49,309.5% in the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after buying an additional 7,192,784 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Columbia Banking System during the first quarter valued at approximately $4,916,000. Citadel Advisors LLC acquired a new stake in shares of Columbia Banking System during the first quarter valued at approximately $318,000. Dimensional Fund Advisors LP raised its stake in shares of Columbia Banking System by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,910,224 shares of the financial services provider’s stock valued at $113,470,000 after buying an additional 102,386 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Columbia Banking System by 10.2% in the first quarter. Geode Capital Management LLC now owns 481,007 shares of the financial services provider’s stock valued at $18,754,000 after buying an additional 44,474 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Columbia Banking System, Inc. (NASDAQ COLB) opened at 39.40 on Monday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 20.31 and a beta of 1.22. The firm has a 50-day moving average price of $38.91 and a 200 day moving average price of $40.09. Columbia Banking System, Inc. has a one year low of $28.51 and a one year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $111.53 million for the quarter, compared to analysts’ expectations of $110.72 million. Columbia Banking System had a return on equity of 8.90% and a net margin of 25.82%. During the same period in the previous year, the firm posted $0.40 EPS. Equities analysts expect that Columbia Banking System, Inc. will post $2.04 earnings per share for the current fiscal year.

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Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $44.00 target price on shares of Columbia Banking System in a research report on Friday, June 16th. Zacks Investment Research lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a “hold” rating and set a $44.00 target price on shares of Columbia Banking System in a research report on Tuesday, May 9th. Finally, Piper Jaffray Companies cut their target price on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Columbia Banking System has a consensus rating of “Hold” and an average price target of $43.80.

In other Columbia Banking System news, CFO Clint Stein sold 8,000 shares of Columbia Banking System stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $40.09, for a total transaction of $320,720.00. Following the sale, the chief financial officer now directly owns 22,877 shares of the company’s stock, valued at approximately $917,138.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.23% of the company’s stock.

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.

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

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