BidaskClub upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a report issued on Thursday.
Several other research firms have also recently commented on COLB. Royal Bank of Canada restated a hold rating and set a $46.00 price target on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray Companies restated a buy rating and set a $53.00 price target on shares of Columbia Banking System in a report on Tuesday, January 9th. Zacks Investment Research cut shares of Columbia Banking System from a buy rating to a hold rating in a report on Wednesday, November 8th. Finally, Sandler O’Neill restated a hold rating and set a $48.00 price target on shares of Columbia Banking System in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Columbia Banking System has a consensus rating of Hold and a consensus price target of $48.00.
Columbia Banking System (NASDAQ COLB) traded up $0.52 during mid-day trading on Thursday, hitting $44.20. 257,222 shares of the company traded hands, compared to its average volume of 253,982. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $3,228.32, a PE ratio of 20.00, a P/E/G ratio of 1.58 and a beta of 1.10. Columbia Banking System has a twelve month low of $35.67 and a twelve month high of $48.06.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, February 6th. Columbia Banking System’s payout ratio is presently 46.32%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Columbia Banking System by 79.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,476 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Columbia Banking System during the fourth quarter valued at approximately $178,000. Teacher Retirement System of Texas bought a new position in Columbia Banking System during the third quarter valued at approximately $202,000. Janney Montgomery Scott LLC bought a new position in Columbia Banking System during the third quarter valued at approximately $204,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in Columbia Banking System during the fourth quarter valued at approximately $205,000. 87.23% 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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