Columbia Banking System (COLB) Lifted to Buy at BidaskClub

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.

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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.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The business had revenue of $135.40 million for 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 company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. equities analysts predict that Columbia Banking System will post 2.8 EPS for the current fiscal year.

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.

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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.

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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