Columbia Banking System (COLB) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a report published on Tuesday.

Several other equities analysts also recently commented on COLB. Zacks Investment Research upgraded shares of Columbia Banking System from a hold rating to a buy rating and set a $41.00 price target on the stock in a research note on Monday, October 29th. Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a market perform rating to an outperform rating and set a $45.00 price target on the stock in a research note on Thursday, November 8th. Sandler O’Neill upgraded shares of Columbia Banking System from a hold rating to a buy rating and set a $43.00 price target on the stock in a research note on Monday. ValuEngine downgraded shares of Columbia Banking System from a hold rating to a sell rating in a research note on Thursday, September 27th. Finally, Piper Jaffray Companies set a $48.00 price target on shares of Columbia Banking System and gave the company a buy rating in a research note on Saturday, October 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $45.33.

Shares of COLB stock remained flat at $$38.25 on Tuesday. 14,348 shares of the company traded hands, compared to its average volume of 329,860. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Columbia Banking System has a fifty-two week low of $31.35 and a fifty-two week high of $48.06. The firm has a market capitalization of $2.79 billion, a P/E ratio of 17.47, a PEG ratio of 2.14 and a beta of 1.05.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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. On average, equities research analysts anticipate that Columbia Banking System will post 2.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.26 per share. 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 2.72%. Columbia Banking System’s payout ratio is 47.49%.

In other Columbia Banking System news, EVP David C. Lawson sold 1,813 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $41.88, for a total transaction 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.06% of the company’s stock.

A number of institutional investors have recently made changes to their positions in COLB. Principal Financial Group Inc. boosted its stake in shares of Columbia Banking System by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 645,287 shares of the financial services provider’s stock valued at $27,070,000 after purchasing an additional 16,111 shares in the last quarter. Ramsey Quantitative Systems boosted its stake in shares of Columbia Banking System by 176.7% in the 2nd quarter. Ramsey Quantitative Systems now owns 15,421 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 9,848 shares in the last quarter. Tributary Capital Management LLC boosted its stake in shares of Columbia Banking System by 9.7% in the 2nd quarter. Tributary Capital Management LLC now owns 362,890 shares of the financial services provider’s stock valued at $14,842,000 after purchasing an additional 31,962 shares in the last quarter. Security National Bank boosted its stake in shares of Columbia Banking System by 2.2% in the 2nd quarter. Security National Bank now owns 70,935 shares of the financial services provider’s stock valued at $2,901,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Piedmont Investment Advisors LLC boosted its stake in shares of Columbia Banking System by 9.3% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 17,065 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 89.56% 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.

Featured Story: Earnings Reports

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply