Cornercap Investment Counsel Inc. Has $701,000 Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Cornercap Investment Counsel Inc. decreased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 54.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,844 shares of the financial services provider’s stock after selling 31,966 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Columbia Banking System were worth $701,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position 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 buying an additional 2,833,744 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Columbia Banking System by 21.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after purchasing an additional 788,383 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the last quarter. LSV Asset Management grew its position in Columbia Banking System by 333.8% in the second quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock valued at $12,711,000 after purchasing an additional 491,742 shares in the last quarter. Finally, Stieven Capital Advisors L.P. acquired a new stake in Columbia Banking System in the 2nd quarter valued at $9,458,000. 92.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COLB has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Stephens increased their price objective on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted 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. Finally, Wells Fargo & Company increased their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.12.

Columbia Banking System Trading Down 0.8 %

Shares of NASDAQ COLB opened at $30.88 on Friday. The firm has a market cap of $6.47 billion, a P/E ratio of 13.37 and a beta of 0.62. The business’s 50 day moving average is $27.11 and its 200-day moving average is $23.41. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $31.86.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $478.80 million. During the same period in the prior year, the company posted $0.79 earnings per share. Analysts forecast that Columbia Banking System, Inc. will post 2.62 EPS for the current 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.