Columbia Banking System, Inc. (NASDAQ:COLB)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a report issued on Tuesday, October 17th, The Fly reports. They presently have a $48.00 price objective on the financial services provider’s stock, up from their prior price objective of $45.00. DA Davidson’s price target points to a potential upside of 8.87% from the company’s current price. DA Davidson also issued estimates for Columbia Banking System’s Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $2.02 EPS, Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.25 EPS and FY2019 earnings at $2.50 EPS.
Several other research firms have also recently weighed in on COLB. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $43.00 to $46.00 in a report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 price objective on shares of Columbia Banking System in a report on Friday, September 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $45.00.
Shares of Columbia Banking System (NASDAQ:COLB) traded up 1.80% on Tuesday, reaching $44.09. 568,170 shares of the company’s stock traded hands. The company has a 50 day moving average of $40.46 and a 200-day moving average of $39.25. Columbia Banking System has a 52 week low of $31.90 and a 52 week high of $45.68. The stock has a market capitalization of $2.57 billion, a PE ratio of 22.39 and a beta of 1.26.
Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The firm had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. During the same quarter last year, the business earned $0.47 earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year. Equities research analysts forecast that Columbia Banking System will post $2.04 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLB. Karp Capital Management Corp bought a new stake in Columbia Banking System in the 1st quarter valued at approximately $479,000. Sei Investments Co. lifted its stake in Columbia Banking System by 9.8% in the 1st quarter. Sei Investments Co. now owns 10,942 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 973 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Columbia Banking System by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 46 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Columbia Banking System by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,547 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 509 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Columbia Banking System by 0.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 95.32% of the company’s stock.
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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