Columbia Banking System (NASDAQ:COLB) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Columbia Banking System (NASDAQ:COLB) from a strong sell rating to a sell rating in a research report report published on Friday, March 29th, BidAskClub reports.

Several other equities analysts have also issued reports on COLB. Zacks Investment Research lowered shares of Columbia Banking System from a hold rating to a sell rating in a report on Monday, January 21st. DA Davidson lowered shares of Columbia Banking System from a buy rating to a neutral rating and decreased their price target for the company from $42.00 to $38.00 in a report on Monday, March 18th. Stephens began coverage on shares of Columbia Banking System in a research note on Wednesday, March 6th. They issued an equal weight rating and a $39.00 target price for the company. Finally, ValuEngine lowered shares of Columbia Banking System from a hold rating to a sell rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $42.33.

COLB stock traded down $0.54 during trading on Friday, hitting $34.83. The company had a trading volume of 251,271 shares, compared to its average volume of 326,306. The stock has a market capitalization of $2.56 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.96 and a beta of 0.98. Columbia Banking System has a 12 month low of $30.65 and a 12 month high of $45.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 24th. The financial services provider reported $0.62 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.06). Columbia Banking System had a net margin of 29.54% and a return on equity of 9.01%. The business had revenue of $144.29 million for the quarter, compared to the consensus estimate of $148.88 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect that Columbia Banking System will post 2.53 earnings per share for the current fiscal year.

In other Columbia Banking System news, COO Clint Stein sold 657 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $38.32, for a total transaction of $25,176.24. Following the sale, the chief operating officer now directly owns 24,644 shares of the company’s stock, valued at approximately $944,358.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.

Large investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. raised its holdings in shares of Columbia Banking System by 9.2% in the 1st quarter. Deprince Race & Zollo Inc. now owns 30,102 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 2,530 shares during the period. Tributary Capital Management LLC raised its holdings in shares of Columbia Banking System by 14.1% in the 1st quarter. Tributary Capital Management LLC now owns 378,072 shares of the financial services provider’s stock valued at $12,359,000 after purchasing an additional 46,579 shares during the period. Geode Capital Management LLC raised its holdings in shares of Columbia Banking System by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 835,332 shares of the financial services provider’s stock valued at $30,314,000 after purchasing an additional 58,640 shares during the period. Norges Bank bought a new stake in shares of Columbia Banking System in the 4th quarter valued at about $22,754,000. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Columbia Banking System by 326.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,115 shares of the financial services provider’s stock valued at $839,000 after purchasing an additional 17,694 shares during the period. 90.79% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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