Janney Montgomery Scott LLC Takes Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Janney Montgomery Scott LLC bought a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) during the third quarter, Holdings Channel reports. The fund bought 13,931 shares of the financial services provider’s stock, valued at approximately $402,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. lifted its position in shares of Columbia Banking System by 34.0% during the 2nd quarter. Everence Capital Management Inc. now owns 14,740 shares of the financial services provider’s stock valued at $422,000 after buying an additional 3,740 shares in the last quarter. TD Asset Management Inc. purchased a new position in shares of Columbia Banking System during the 2nd quarter valued at approximately $1,061,000. Louisiana State Employees Retirement System purchased a new position in shares of Columbia Banking System during the 3rd quarter valued at approximately $1,086,000. Optiver Holding B.V. purchased a new position in shares of Columbia Banking System during the 2nd quarter valued at approximately $347,000. Finally, Connectus Wealth LLC purchased a new position in Columbia Banking System in the 2nd quarter valued at $264,000.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, October 21st. StockNews.com initiated coverage on Columbia Banking System in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Columbia Banking System Trading Up 0.5 %

Shares of COLB stock opened at $28.62 on Tuesday. The stock’s fifty day moving average is $30.88 and its two-hundred day moving average is $30.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $2.25 billion, a P/E ratio of 9.97 and a beta of 0.70. Columbia Banking System, Inc. has a fifty-two week low of $26.97 and a fifty-two week high of $37.59.

About Columbia Banking System

(Get Rating)

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 the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other 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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