Columbia Banking System (COLB) Downgraded by BidaskClub

BidaskClub downgraded shares of Columbia Banking System (NASDAQ:COLB) from a buy rating to a hold rating in a research note released on Tuesday morning.

A number of other equities analysts have also recently weighed in on COLB. DA Davidson reissued a buy rating and set a $48.00 price objective (up from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. Royal Bank of Canada reissued a hold rating and set a $42.00 price objective on shares of Columbia Banking System in a report on Friday, September 8th. Finally, Zacks Investment Research cut Columbia Banking System from a buy rating to a hold rating in a report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Columbia Banking System has an average rating of Hold and a consensus target price of $45.60.

Columbia Banking System (NASDAQ:COLB) traded down $0.66 during trading hours on Tuesday, hitting $43.39. The company’s stock had a trading volume of 447,000 shares, compared to its average volume of 360,046. Columbia Banking System has a 1 year low of $35.67 and a 1 year high of $48.06. The stock has a market cap of $3,216.47, a PE ratio of 20.02, a P/E/G ratio of 2.00 and a beta of 1.24.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. equities analysts forecast that Columbia Banking System will post 2.2 earnings per share for the current year.

In related news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $46.87, for a total transaction of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares of the company’s stock, valued at approximately $527,287.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.23% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC grew its position in Columbia Banking System by 98.1% during the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,648 shares during the last quarter. D.A. Davidson & CO. grew its position in Columbia Banking System by 2.1% during the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 73 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Columbia Banking System during the 3rd quarter worth approximately $202,000. Janney Montgomery Scott LLC bought a new position in Columbia Banking System during the 3rd quarter worth approximately $204,000. Finally, Riverhead Capital Management LLC grew its position in Columbia Banking System by 102.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 2,662 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

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Columbia Banking System Company Profile

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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