Shares of Columbia Banking System Inc (NASDAQ:COLB) have received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $47.40.
Several equities analysts have recently weighed in on the company. BidaskClub upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, January 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $48.00 price target (up from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th.
In other news, CAO Barry Ray sold 750 shares of Columbia Banking System stock in a transaction on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the transaction, the chief accounting officer now directly owns 11,250 shares in the company, valued at $527,287.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.23% of the stock is currently owned by insiders.
Institutional investors 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 second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,648 shares in the last quarter. D.A. Davidson & CO. grew its position in Columbia Banking System by 2.1% during the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after buying an additional 73 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Columbia Banking System during the third quarter worth about $202,000. Janney Montgomery Scott LLC purchased a new position in Columbia Banking System during the third quarter worth about $204,000. Finally, Riverhead Capital Management LLC grew its position in Columbia Banking System by 102.4% during the second quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock worth $210,000 after buying an additional 2,662 shares in the last quarter. Institutional investors and hedge funds own 76.62% of the company’s stock.
Shares of Columbia Banking System (NASDAQ:COLB) traded up $0.43 on Tuesday, hitting $46.02. The company’s stock had a trading volume of 219,600 shares, compared to its average volume of 261,978. The company has a market capitalization of $3,360.32, a price-to-earnings ratio of 20.92, a PEG ratio of 1.83 and a beta of 1.25. Columbia Banking System has a 52-week low of $35.67 and a 52-week high of $48.06.
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, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million for the quarter, compared to analyst estimates of $119.16 million. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The business’s revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. equities analysts forecast that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.
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About Columbia Banking System
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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