Columbia Banking System (COLB) Downgraded by ValuEngine to Sell

Columbia Banking System (NASDAQ:COLB) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other analysts have also weighed in on the company. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. BidaskClub raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, July 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Columbia Banking System has an average rating of “Hold” and an average target price of $48.20.

Shares of NASDAQ COLB opened at $38.71 on Thursday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83. Columbia Banking System has a 52-week low of $38.62 and a 52-week high of $48.06.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $140.37 million during the quarter, compared to analysts’ expectations of $143.03 million. Columbia Banking System had a net margin of 25.30% and a return on equity of 9.13%. During the same period in the previous year, the firm earned $0.47 EPS. analysts predict that Columbia Banking System will post 2.5 earnings per share for the current fiscal year.

In other news, EVP David C. Lawson sold 1,813 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total transaction of $75,928.44. Following the sale, the executive vice president now owns 15,460 shares of the company’s stock, valued at $647,464.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of COLB. SG Americas Securities LLC purchased a new stake in shares of Columbia Banking System during the first quarter worth $199,000. Citigroup Inc. increased its holdings in Columbia Banking System by 208.0% in the first quarter. Citigroup Inc. now owns 7,916 shares of the financial services provider’s stock valued at $331,000 after buying an additional 5,346 shares during the last quarter. Laurion Capital Management LP purchased a new position in Columbia Banking System in the second quarter valued at $419,000. CIBC World Markets Inc. purchased a new position in Columbia Banking System in the first quarter valued at $424,000. Finally, Xact Kapitalforvaltning AB increased its holdings in Columbia Banking System by 40.6% in the first quarter. Xact Kapitalforvaltning AB now owns 11,088 shares of the financial services provider’s stock valued at $465,000 after buying an additional 3,200 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Company Profile

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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