Columbia Banking System, Inc. (NASDAQ:COLB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 18.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,408 shares of the financial services provider's stock after selling 19,934 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Columbia Banking System were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of Columbia Banking System during the 2nd quarter worth $33,000. Abich Financial Wealth Management LLC lifted its position in Columbia Banking System by 85.1% during 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 holdings in Columbia Banking System by 144.0% during 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 during the period. Allspring Global Investments Holdings LLC increased its position 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 worth $52,000 after buying an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Columbia Banking System by 137,166.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock valued at $82,000 after buying an additional 4,115 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stephens raised their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on shares of Columbia Banking System from $23.00 to $27.00 and gave the company a "market perform" rating in a research report on Friday, July 26th. Raymond James upped their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Finally, Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, October 28th. Eleven equities 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, Columbia Banking System currently has a consensus rating of "Hold" and a consensus price target of $27.12.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB traded down $0.38 during trading on Friday, hitting $30.74. 430,697 shares of the company were exchanged, compared to its average volume of 2,261,583. The company has a fifty day moving average price of $26.97 and a 200-day moving average price of $23.33. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $31.86. The firm has a market capitalization of $6.44 billion, a PE ratio of 13.47 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced 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 business had revenue of $765.06 million during 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 period last year, the business earned $0.79 earnings per share. Research analysts anticipate that Columbia Banking System, Inc. will post 2.62 earnings per share for the current fiscal year.

Columbia Banking System Company 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.