ValuEngine upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a report released on Wednesday, ValuEngine reports.
A number of other equities analysts have also issued reports on COLB. BidaskClub lowered Columbia Banking System from a buy rating to a hold rating in a report on Friday, May 24th. Zacks Investment Research upgraded Columbia Banking System from a sell rating to a hold rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada set a $38.00 price objective on Columbia Banking System and gave the company a hold rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $41.71.
Shares of NASDAQ COLB traded down $0.56 during trading on Wednesday, reaching $35.67. The company had a trading volume of 158,379 shares, compared to its average volume of 194,037. Columbia Banking System has a twelve month low of $30.65 and a twelve month high of $43.60. The stock has a market capitalization of $2.62 billion, a PE ratio of 14.44, a PEG ratio of 2.11 and a beta of 1.07. The business’s 50-day simple moving average is $36.02. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.23.
Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. The company had revenue of $150.76 million during the quarter, compared to the consensus estimate of $147.22 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Equities research analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, August 6th. Columbia Banking System’s dividend payout ratio (DPR) is currently 45.34%.
In other Columbia Banking System news, EVP Andy Mcdonald sold 3,481 shares of Columbia Banking System stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $35.06, for a total transaction of $122,043.86. Following the completion of the sale, the executive vice president now owns 36,264 shares of the company’s stock, valued at approximately $1,271,415.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.92% of the company’s stock.
Several hedge funds have recently made changes to their positions in COLB. Quantamental Technologies LLC bought a new stake in Columbia Banking System during the 1st quarter worth about $32,000. Toronto Dominion Bank grew its position in shares of Columbia Banking System by 48.7% during the 1st quarter. Toronto Dominion Bank now owns 1,005 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 329 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Columbia Banking System by 51.4% during the 1st quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 572 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of Columbia Banking System during the 2nd quarter worth approximately $86,000. Finally, Advisor Group Inc. lifted its holdings in shares of Columbia Banking System by 9.2% during the 4th quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 307 shares during the period. 89.88% of the stock is owned by institutional investors.
About Columbia Banking System
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.
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