Columbia Banking System (COLB) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

COLB has been the subject of a number of other reports. Piper Jaffray Companies set a $48.00 target price on Columbia Banking System and gave the company a buy rating in a research note on Saturday, October 27th. Zacks Investment Research raised Columbia Banking System from a sell rating to a hold rating in a research note on Friday, September 7th. Finally, BidaskClub raised Columbia Banking System from a sell rating to a hold rating in a research note on Saturday, July 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $45.33.

NASDAQ:COLB opened at $38.87 on Friday. Columbia Banking System has a 1 year low of $31.35 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 0.10. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Columbia Banking System had a net margin of 25.35% and a return on equity of 8.66%. The business had revenue of $143.82 million during the quarter, compared to analyst estimates of $143.24 million. As a group, equities research analysts anticipate that Columbia Banking System will post 2.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.68%. Columbia Banking System’s payout ratio is 47.49%.

In other news, EVP David C. Lawson sold 1,813 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the sale, the executive vice president now directly owns 15,460 shares in the company, valued at $647,464.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Teachers Advisors LLC lifted its holdings in shares of Columbia Banking System by 1.8% in the third quarter. Teachers Advisors LLC now owns 155,383 shares of the financial services provider’s stock valued at $6,024,000 after purchasing an additional 2,767 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Columbia Banking System by 53.6% in the third quarter. Glenmede Trust Co. NA now owns 8,233 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 2,873 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of Columbia Banking System by 55.0% in the third quarter. MetLife Investment Advisors LLC now owns 50,852 shares of the financial services provider’s stock valued at $1,972,000 after purchasing an additional 18,042 shares in the last quarter. Man Group plc lifted its holdings in shares of Columbia Banking System by 410.2% in the third quarter. Man Group plc now owns 144,987 shares of the financial services provider’s stock valued at $5,621,000 after purchasing an additional 116,568 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Columbia Banking System in the third quarter valued at about $1,162,000. Institutional investors own 87.61% of the company’s stock.

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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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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