Columbia Banking System (NASDAQ:COLB) Cut to Sell at ValuEngine

ValuEngine lowered shares of Columbia Banking System (NASDAQ:COLB) from a hold rating to a sell rating in a report published on Monday, ValuEngine reports.

A number of other analysts also recently weighed in on COLB. Stephens restated a hold rating and issued a $37.00 target price on shares of Columbia Banking System in a report on Tuesday, October 1st. Royal Bank of Canada set a $38.00 price target on Columbia Banking System and gave the stock a hold rating in a research report on Friday, July 26th. BidaskClub lowered Columbia Banking System from a buy rating to a hold rating in a research report on Tuesday, October 8th. Finally, Zacks Investment Research cut Columbia Banking System from a hold rating to a sell rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Columbia Banking System presently has a consensus rating of Hold and a consensus target price of $41.57.

NASDAQ COLB traded down $0.11 during trading on Monday, hitting $37.86. 7,906 shares of the stock traded hands, compared to its average volume of 239,530. The company has a market capitalization of $2.77 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. The firm has a 50-day simple moving average of $36.43 and a 200-day simple moving average of $35.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.23. Columbia Banking System has a 12-month low of $30.65 and a 12-month high of $41.05.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. The business had revenue of $150.76 million for the quarter, compared to analysts’ expectations of $147.22 million. During the same period in the prior year, the firm earned $0.57 EPS. As a group, research analysts predict that Columbia Banking System will post 2.54 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Columbia Banking System by 1.0% during the second quarter. BlackRock Inc. now owns 10,873,862 shares of the financial services provider’s stock valued at $393,416,000 after buying an additional 109,814 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Columbia Banking System by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,870,804 shares of the financial services provider’s stock worth $284,766,000 after buying an additional 49,422 shares during the period. Northern Trust Corp lifted its holdings in shares of Columbia Banking System by 0.4% in the 2nd quarter. Northern Trust Corp now owns 1,441,014 shares of the financial services provider’s stock worth $52,137,000 after buying an additional 6,244 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Columbia Banking System by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,427 shares of the financial services provider’s stock worth $42,816,000 after buying an additional 13,798 shares during the period. Finally, Boston Partners grew its position in shares of Columbia Banking System by 17.2% during the 2nd quarter. Boston Partners now owns 658,291 shares of the financial services provider’s stock worth $23,768,000 after buying an additional 96,820 shares in the last quarter. Institutional investors own 89.80% 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.

Featured Article: How is the LIBOR rate calculated?

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.