BidaskClub upgraded shares of Columbia Banking System (NASDAQ:COLB) from a hold rating to a buy rating in a research report report published on Friday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Columbia Banking System from a buy rating to a hold rating in a research report on Thursday, April 5th. Piper Jaffray set a $52.00 price objective on shares of Columbia Banking System and gave the stock a buy rating in a research report on Tuesday, January 30th. Sandler O’Neill reiterated a hold rating and issued a $48.00 price objective on shares of Columbia Banking System in a research report on Friday, January 26th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $46.00 price objective on shares of Columbia Banking System in a research report on Friday, January 26th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $47.33.
NASDAQ COLB opened at $43.65 on Friday. The firm has a market cap of $3,157.47, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. Columbia Banking System has a 1 year low of $35.67 and a 1 year high of $48.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.82 and a quick ratio of 0.82.
In other Columbia Banking System news, CFO Clint Stein sold 2,300 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $44.16, for a total value of $101,568.00. Following the completion of the transaction, the chief financial officer now owns 26,610 shares in the company, valued at $1,175,097.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.23% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Columbia Banking System by 79.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,476 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Columbia Banking System in the fourth quarter worth about $178,000. Janney Montgomery Scott LLC acquired a new position in shares of Columbia Banking System in the third quarter worth about $204,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Columbia Banking System during the 4th quarter worth about $205,000. Finally, Yellowstone Partners LLC acquired a new position in shares of Columbia Banking System during the 3rd quarter worth about $224,000. Institutional investors and hedge funds own 88.03% of the company’s stock.
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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