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.
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.
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