Duality Advisers LP bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,695 shares of the financial services provider’s stock, valued at approximately $322,000.
Several other hedge funds have also recently made changes to their positions in COLB. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Columbia Banking System during the 1st quarter valued at about $484,000. PNC Financial Services Group Inc. raised its position in shares of Columbia Banking System by 26.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock valued at $171,000 after buying an additional 1,120 shares in the last quarter. Bank of Montreal Can raised its position in shares of Columbia Banking System by 2.7% during the 1st quarter. Bank of Montreal Can now owns 23,253 shares of the financial services provider’s stock valued at $790,000 after buying an additional 620 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Columbia Banking System by 56.3% during the 1st quarter. MetLife Investment Management LLC now owns 42,283 shares of the financial services provider’s stock valued at $1,364,000 after buying an additional 15,237 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Columbia Banking System by 3.4% during the 1st quarter. Rhumbline Advisers now owns 232,909 shares of the financial services provider’s stock valued at $7,516,000 after buying an additional 7,638 shares in the last quarter.
Columbia Banking System Price Performance
NASDAQ COLB opened at $20.05 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50 day moving average price is $22.50 and its 200-day moving average price is $28.28. Columbia Banking System, Inc. has a 52-week low of $17.54 and a 52-week high of $35.53. The company has a market cap of $1.58 billion, a PE ratio of 8.46 and a beta of 0.67.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Columbia Banking System in a research report on Friday. They issued a “sell” rating on the stock. Truist Financial reduced their price objective on shares of Columbia Banking System from $24.00 to $23.00 in a research report on Monday, May 1st. Royal Bank of Canada reduced their price objective on shares of Columbia Banking System from $37.00 to $33.00 in a research report on Wednesday, January 25th. Wedbush increased their price objective on shares of Columbia Banking System from $23.00 to $24.00 in a research report on Friday, April 28th. Finally, Raymond James raised shares of Columbia Banking System from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $34.00 to $28.00 in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.44.
About Columbia Banking System
Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It offers its services to small and medium-sized businesses, professionals, and individuals. It operates through the Washington, Oregon, Idaho, and California geographical segments. The company was founded in 1993 and is headquartered in Tacoma, WA.
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