Amalgamated Bank Has $2.61 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Amalgamated Bank reduced its position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 23.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 99,882 shares of the financial services provider's stock after selling 31,281 shares during the period. Amalgamated Bank's holdings in Columbia Banking System were worth $2,608,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider's stock valued at $63,295,000 after acquiring an additional 2,833,744 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider's stock valued at $86,468,000 after acquiring an additional 788,383 shares during the period. Vanguard Group Inc. raised its holdings in Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock valued at $432,041,000 after acquiring an additional 574,509 shares during the period. LSV Asset Management raised its holdings in Columbia Banking System by 333.8% in the 2nd quarter. LSV Asset Management now owns 639,042 shares of the financial services provider's stock valued at $12,711,000 after acquiring an additional 491,742 shares during the period. Finally, Stieven Capital Advisors L.P. bought a new position in Columbia Banking System in the 2nd quarter valued at about $9,458,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock traded up $1.02 during trading on Monday, hitting $31.50. The company's stock had a trading volume of 1,489,156 shares, compared to its average volume of 2,285,419. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $31.86. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 13.64 and a beta of 0.62. The stock has a 50-day moving average price of $26.56 and a two-hundred day moving average price of $23.13.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts predict that Columbia Banking System, Inc. will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays raised their target price on shares of Columbia Banking System from $25.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Truist Financial raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a "market perform" rating in a report on Friday, July 26th. Raymond James increased their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.12.

Columbia Banking System Profile

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.