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

Stieven Capital Advisors L.P. grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 98.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 944,332 shares of the financial services provider’s stock after purchasing an additional 468,832 shares during the quarter. Columbia Banking System comprises approximately 4.7% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 3rd biggest holding. Stieven Capital Advisors L.P. owned about 0.45% of Columbia Banking System worth $24,657,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its position in Columbia Banking System by 16.5% during the first 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 purchasing an additional 21,840 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Columbia Banking System by 2.6% in the 1st 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 during the last quarter. Edgestream Partners L.P. acquired a new stake in Columbia Banking System during the 1st quarter worth approximately $1,673,000. Covestor Ltd lifted its holdings in Columbia Banking System by 109.4% during the 1st quarter. Covestor Ltd now owns 10,727 shares of the financial services provider’s stock worth $208,000 after buying an additional 5,604 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Columbia Banking System during the 1st quarter worth approximately $1,747,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $30.88 on Friday. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $31.86. The company has a market capitalization of $6.47 billion, a P/E ratio of 13.37 and a beta of 0.62. The company’s fifty day moving average is $27.11 and its two-hundred day moving average is $23.44.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period last year, the firm posted $0.79 EPS. As a group, equities analysts expect that Columbia Banking System, Inc. will post 2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COLB shares. Wells Fargo & Company raised 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 report on Friday, October 25th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Truist Financial raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. 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 report on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.12.

About Columbia Banking System

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.