Shares of Columbia Banking System Inc (NASDAQ:COLB) have received a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $47.60.
A number of analysts have recently weighed in on COLB shares. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price objective on shares of Columbia Banking System in a research report on Friday, January 26th. BidaskClub cut Columbia Banking System from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. Finally, Piper Jaffray set a $52.00 price objective on Columbia Banking System and gave the stock a “buy” rating in a research report on Tuesday, January 30th.
NASDAQ COLB traded down $0.85 during midday trading on Friday, hitting $42.15. 51,459 shares of the company traded hands, compared to its average volume of 281,354. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $3,112.91, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. Columbia Banking System has a 52 week low of $35.67 and a 52 week high of $48.06.
In other news, CFO Clint Stein sold 2,300 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $44.16, for a total value of $101,568.00. Following the completion of the sale, the chief financial officer now owns 26,610 shares of the company’s stock, valued at approximately $1,175,097.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of COLB. Sei Investments Co. lifted its position in Columbia Banking System by 10.0% during the 3rd quarter. Sei Investments Co. now owns 13,070 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 1,183 shares during the period. New York State Common Retirement Fund raised its stake in shares of Columbia Banking System by 12.7% during the 3rd quarter. New York State Common Retirement Fund now owns 88,153 shares of the financial services provider’s stock valued at $3,712,000 after buying an additional 9,918 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Columbia Banking System by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 144,834 shares of the financial services provider’s stock valued at $6,099,000 after buying an additional 4,151 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Columbia Banking System by 33.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 7,052 shares of the financial services provider’s stock valued at $296,000 after buying an additional 1,765 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Columbia Banking System during the 3rd quarter valued at about $262,000. 88.03% of the stock is owned by institutional investors.
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About Columbia Banking System
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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