Sterling Capital Management LLC Buys 8,041 Shares of Columbia Banking System Inc (NASDAQ:COLB)

Sterling Capital Management LLC grew its holdings in Columbia Banking System Inc (NASDAQ:COLB) by 18.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,678 shares of the financial services provider’s stock after buying an additional 8,041 shares during the quarter. Sterling Capital Management LLC owned about 0.07% of Columbia Banking System worth $2,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of COLB. SG Americas Securities LLC purchased a new stake in shares of Columbia Banking System in the first quarter valued at $199,000. Citigroup Inc. grew its position in shares of Columbia Banking System by 208.0% in the first quarter. Citigroup Inc. now owns 7,916 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 5,346 shares during the period. CIBC World Markets Inc. purchased a new stake in shares of Columbia Banking System in the first quarter valued at $424,000. Laurion Capital Management LP purchased a new stake in shares of Columbia Banking System in the second quarter valued at $419,000. Finally, Xact Kapitalforvaltning AB grew its position in shares of Columbia Banking System by 40.6% in the first quarter. Xact Kapitalforvaltning AB now owns 11,088 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 3,200 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Shares of COLB opened at $38.99 on Tuesday. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.55 and a beta of 1.09. Columbia Banking System Inc has a 12 month low of $37.79 and a 12 month high of $48.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.04). Columbia Banking System had a return on equity of 9.13% and a net margin of 25.30%. The company had revenue of $140.37 million for the quarter, compared to analyst estimates of $143.03 million. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities research analysts predict that Columbia Banking System Inc will post 2.5 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on COLB. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Zacks Investment Research cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.20.

In related news, EVP David C. Lawson sold 1,813 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the transaction, the executive vice president now owns 15,460 shares in the company, valued at $647,464.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

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