Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 98.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 944,332 shares of the financial services provider's stock after buying an additional 468,832 shares during the quarter. Columbia Banking System comprises 4.7% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 3rd biggest position. Stieven Capital Advisors L.P. owned 0.45% of Columbia Banking System worth $24,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of COLB. State Board of Administration of Florida Retirement System increased its position in shares of Columbia Banking System by 16.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 154,293 shares of the financial services provider's stock valued at $3,305,000 after buying an additional 21,840 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Columbia Banking System by 2.6% in the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock worth $432,041,000 after acquiring an additional 574,509 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Columbia Banking System during the first quarter worth about $1,673,000. Covestor Ltd lifted its holdings in shares of Columbia Banking System by 109.4% during the 1st quarter. Covestor Ltd now owns 10,727 shares of the financial services provider's stock valued at $208,000 after purchasing an additional 5,604 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Columbia Banking System during the 1st quarter valued at about $1,747,000. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Trading Down 0.8 %

Shares of COLB traded down $0.24 during midday trading on Friday, reaching $30.88. The stock had a trading volume of 939,256 shares, compared to its average volume of 1,793,780. The firm has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $23.47. The firm has a market cap of $6.47 billion, a PE ratio of 13.37 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $31.86.

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, topping analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The firm had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. As a group, research analysts forecast that Columbia Banking System, Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on COLB shares. Royal Bank of Canada raised their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Raymond James increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Truist Financial boosted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. Finally, Wedbush increased their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.