Mengis Capital Management Inc. Has $1.30 Million Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Mengis Capital Management Inc. lifted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 383.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,922 shares of the financial services provider's stock after buying an additional 39,603 shares during the period. Mengis Capital Management Inc.'s holdings in Columbia Banking System were worth $1,303,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allworth Financial LP increased its holdings in shares of Columbia Banking System by 0.3% during the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider's stock worth $4,583,000 after buying an additional 458 shares in the last quarter. Sippican Capital Advisors grew its position in Columbia Banking System by 0.5% during the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider's stock worth $2,903,000 after acquiring an additional 552 shares during the last quarter. Signaturefd LLC increased its holdings in Columbia Banking System by 14.0% in the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider's stock worth $151,000 after purchasing an additional 709 shares in the last quarter. Bleakley Financial Group LLC raised its position in Columbia Banking System by 2.9% in the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider's stock valued at $656,000 after purchasing an additional 718 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of 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. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock traded down $0.43 on Wednesday, reaching $30.95. 1,262,957 shares of the company's stock were exchanged, compared to its average volume of 2,275,300. The company has a market capitalization of $6.48 billion, a P/E ratio of 13.61 and a beta of 0.62. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $31.86. The firm's 50-day moving average is $26.70 and its two-hundred day moving average is $23.22.

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

Analyst Upgrades and Downgrades

COLB has been the subject of several recent research reports. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Wedbush upped their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price target on 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.