Columbia Banking System, Inc. (COLB) Stock Rating Lowered by Zacks Investment Research

Columbia Banking System, Inc. (NASDAQ:COLB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly owned subsidiary, Columbia State Bank,conducts a full-service commercial banking business. Headquartered in Tacoma, Washington, the Company provides a full range of banking services to small and medium-sized businesses, professionals and other individuals through banking offices located in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington. “

A number of other equities research analysts have also weighed in on COLB. DA Davidson reissued a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a report on Tuesday. BidaskClub lowered shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies raised shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $46.00 in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $45.00.

Columbia Banking System (COLB) traded up 0.22% during mid-day trading on Thursday, hitting $41.85. 263,347 shares of the stock traded hands. The company has a 50 day moving average price of $39.97 and a 200-day moving average price of $39.12. The stock has a market capitalization of $2.44 billion, a PE ratio of 21.25 and a beta of 1.26. Columbia Banking System has a one year low of $31.75 and a one year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $112.27 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities analysts anticipate that Columbia Banking System will post $2.04 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC bought a new stake in Columbia Banking System during the 2nd quarter worth approximately $503,000. Westwood Holdings Group Inc. grew its holdings in Columbia Banking System by 34.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 506,677 shares of the financial services provider’s stock worth $20,191,000 after acquiring an additional 128,587 shares during the last quarter. Scotia Capital Inc. grew its holdings in Columbia Banking System by 16.1% during the 2nd quarter. Scotia Capital Inc. now owns 29,035 shares of the financial services provider’s stock worth $1,157,000 after acquiring an additional 4,017 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Columbia Banking System by 4.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,840 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 238 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Columbia Banking System during the 2nd quarter worth approximately $2,841,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Company Profile

Columbia Banking Syste

According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly owned subsidiary, Columbia State Bank,conducts a full-service commercial banking business. Headquartered in Tacoma, Washington, the Company provides a full range of banking services to small and medium-sized businesses, professionals and other individuals through banking offices located in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington. “

A number of other equities research analysts have also weighed in on COLB. DA Davidson reissued a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a report on Tuesday. BidaskClub lowered shares of Columbia Banking System from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies raised shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $46.00 in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $45.00.

Columbia Banking System (COLB) traded up 0.22% during mid-day trading on Thursday, hitting $41.85. 263,347 shares of the stock traded hands. The company has a 50 day moving average price of $39.97 and a 200-day moving average price of $39.12. The stock has a market capitalization of $2.44 billion, a PE ratio of 21.25 and a beta of 1.26. Columbia Banking System has a one year low of $31.75 and a one year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $112.27 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities analysts anticipate that Columbia Banking System will post $2.04 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece of content was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/19/columbia-banking-system-inc-colb-stock-rating-lowered-by-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC bought a new stake in Columbia Banking System during the 2nd quarter worth approximately $503,000. Westwood Holdings Group Inc. grew its holdings in Columbia Banking System by 34.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 506,677 shares of the financial services provider’s stock worth $20,191,000 after acquiring an additional 128,587 shares during the last quarter. Scotia Capital Inc. grew its holdings in Columbia Banking System by 16.1% during the 2nd quarter. Scotia Capital Inc. now owns 29,035 shares of the financial services provider’s stock worth $1,157,000 after acquiring an additional 4,017 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Columbia Banking System by 4.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,840 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 238 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Columbia Banking System during the 2nd quarter worth approximately $2,841,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Company Profile

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.

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