Columbia Banking System (NASDAQ:COLB)‘s stock had its “buy” rating reaffirmed by stock analysts at Piper Jaffray Companies in a note issued to investors on Tuesday, January 9th. They currently have a $53.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ price target points to a potential upside of 22.09% from the company’s previous close.
A number of other analysts also recently weighed in on the company. 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 report on Monday, January 8th. BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, DA Davidson reiterated a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.00.
Shares of Columbia Banking System (NASDAQ:COLB) opened at $43.41 on Tuesday. The firm has a market capitalization of $3,169.80, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.56 and a beta of 1.11. Columbia Banking System has a 1-year low of $35.67 and a 1-year high of $48.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.02.
Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). The company had revenue of $135.40 million during the quarter, compared to analyst estimates of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. equities analysts anticipate that Columbia Banking System will post 2.79 EPS for the current fiscal year.
In other Columbia Banking System news, CAO Barry Ray sold 750 shares of the 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 completion of the sale, the chief accounting officer now directly owns 11,250 shares in the company, valued at approximately $527,287.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.23% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Flinton Capital Management LLC grew its stake in shares of Columbia Banking System by 98.1% in the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Columbia Banking System by 79.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,476 shares during the period. D.A. Davidson & CO. grew its stake in shares of Columbia Banking System by 2.1% in the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after buying an additional 73 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at about $178,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at about $202,000. Institutional investors own 76.78% of the company’s stock.
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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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