Columbia Banking System (COLB) Stock Rating Upgraded by ValuEngine

Columbia Banking System (NASDAQ:COLB) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other research firms have also commented on COLB. BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Keefe, Bruyette & Woods upgraded Columbia Banking System from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Thursday, November 8th. Sandler O’Neill upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Monday. Finally, Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Columbia Banking System presently has an average rating of “Buy” and a consensus target price of $45.33.

COLB opened at $38.63 on Friday. Columbia Banking System has a 52 week low of $31.35 and a 52 week high of $48.06. The firm has a market cap of $2.79 billion, a PE ratio of 17.64, a PEG ratio of 2.14 and a beta of 1.05. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.



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 consensus estimate of $0.64 by ($0.01). Columbia Banking System had a return on equity of 8.66% and a net margin of 25.35%. The firm had revenue of $143.82 million for the quarter, compared to analysts’ expectations of $143.24 million. Equities research analysts predict that Columbia Banking System will post 2.54 earnings per share for the current fiscal year.

In related news, EVP David C. Lawson sold 1,813 shares of Columbia Banking System stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the completion of the transaction, the executive vice president now directly owns 15,460 shares in the company, valued at $647,464.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.06% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in COLB. Sowell Financial Services LLC purchased a new position in Columbia Banking System in the third quarter valued at $229,000. Cpwm LLC purchased a new position in Columbia Banking System in the third quarter valued at $240,000. Glenmede Trust Co. NA boosted its holdings in 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 during the period. Laurion Capital Management LP purchased a new position in Columbia Banking System in the second quarter valued at $419,000. Finally, Quantbot Technologies LP purchased a new position in Columbia Banking System in the third quarter valued at $429,000. Hedge funds and other institutional investors own 89.56% of the company’s stock.

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.

Read More: How to Invest in Growth Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

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