Columbia Banking System (NASDAQ:COLB) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a research report report published on Monday morning.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered their price target on Columbia Banking System from $25.00 to $22.00 and set an equal weight rating on the stock in a report on Wednesday, April 10th. TheStreet cut Columbia Banking System from a b- rating to a c+ rating in a research note on Thursday, February 22nd. DA Davidson lowered their price objective on shares of Columbia Banking System from $25.00 to $20.00 and set a neutral rating on the stock in a research report on Wednesday, March 13th. Stephens downgraded shares of Columbia Banking System from an overweight rating to an equal weight rating and cut their price objective for the stock from $31.00 to $24.00 in a research report on Thursday, January 25th. Finally, Truist Financial reduced their target price on shares of Columbia Banking System from $22.00 to $20.00 and set a hold rating for the company in a research note on Monday, April 1st. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Columbia Banking System has a consensus rating of Hold and a consensus target price of $22.19.

Columbia Banking System Trading Down 0.8 %

Shares of NASDAQ COLB opened at $20.06 on Monday. The stock has a market cap of $4.20 billion, a P/E ratio of 8.61 and a beta of 0.69. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $28.11. The stock has a 50 day moving average of $18.81 and a two-hundred day moving average of $21.14.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm had revenue of $473.72 million during the quarter, compared to the consensus estimate of $480.39 million. During the same quarter in the prior year, the firm earned $0.46 EPS. Columbia Banking System’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts predict that Columbia Banking System will post 2.37 earnings per share for the current year.

Institutional Investors Weigh In On Columbia Banking System

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trillium Asset Management LLC grew its holdings in shares of Columbia Banking System by 7.6% in the 1st quarter. Trillium Asset Management LLC now owns 188,146 shares of the financial services provider’s stock worth $3,641,000 after acquiring an additional 13,352 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Columbia Banking System by 16.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 154,293 shares of the financial services provider’s stock worth $3,305,000 after purchasing an additional 21,840 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Columbia Banking System by 7.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,374 shares of the financial services provider’s stock valued at $8,135,000 after purchasing an additional 29,728 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Columbia Banking System in the first quarter valued at $2,292,000. Finally, William Blair Investment Management LLC raised its stake in shares of Columbia Banking System by 13.6% during the 1st quarter. William Blair Investment Management LLC now owns 1,792,571 shares of the financial services provider’s stock worth $34,686,000 after buying an additional 215,220 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.