Stocks of Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) have been given an average “Buy” rating by the seven rating agencies that currently cover the stock, MarketBeat.com reports. Four equity research analysts gave the stock a hold rating, two gave the company a buy rating and one issued a strong buy rating for the company. The 12-month average price target among analysts who have covered the stock over the past year is $37.00.
Several equity analysts have recently commented on the company. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a price target of $38.00 on the stock in a Thursday, March 31 research report. Keefe, Bruyette & Woods began covering Columbia Banking System in a Friday, February 11 report. They issued a “market performance” rating on the stock. Raymond James cut its target price on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com began covering Columbia Banking System in a report on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Royal Bank of Canada raised its target price on Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a report on Friday.
NASDAQ COLB traded at $0.14 on Friday, reaching $31.25. 4,774 shares of the company have been traded, against an average volume of 866,981. The company has a market capitalization of $2.46 billion, a price-earnings ratio of 11.20 and a beta of 0.63. The company’s 50-day moving average price is $33.61 and its 200-day moving average price is $34.51. Columbia Banking System has a 52-week low of $29.22 and a 52-week high of $45.05.
Colombian banking system (NASDAQ:COLB – Get a rating) last reported quarterly earnings data on Thursday, April 21. The financial services provider reported EPS of $0.74 for the quarter, beating Thomson Reuters consensus estimate of $0.68 by $0.06. Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. The company posted revenue of $170.38 million for the quarter, versus a consensus estimate of $166.09 million. In the same period a year earlier, the company had earned earnings per share of $0.73. The company’s revenue increased 15.8% year over year. As a group, analysts expect Columbia Banking System to post EPS of 2.66 for the current year.
In related news, CFO Aaron James Cerf acquired 3,000 shares of Columbia Banking System in a transaction on Thursday, February 24. The shares were purchased at an average cost of $33.45 per share, with a total value of $100,350.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders own 0.62% of the shares of the company.
Several institutional investors and hedge funds have recently increased or reduced their stake in COLB. Earnest Partners LLC purchased a new position in shares of Columbia Banking System during the fourth quarter worth approximately $27,000. Covestor Ltd purchased a new stake in shares of Columbia Banking System in the fourth quarter worth approximately $28,000. First Horizon Advisors Inc. increased its holdings of Columbia Banking System stock by 99.4% in the third quarter. First Horizon Advisors Inc. now owns 660 shares of the financial services provider worth $31,000 after purchasing an additional 329 shares during the period. Neo Ivy Capital Management bought a new equity stake in Columbia Banking System in the fourth quarter worth about $56,000. Finally, Pinebridge Investments LP bought a new equity stake in Columbia Banking System in the fourth quarter valued at around $69,000. 84.11% of the shares are currently held by hedge funds and other institutional investors.
Columbia Banking System Company Profile (Get a rating)
Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.
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