Analysts Set Columbia Banking System Inc (COLB) Price Target at $47.60

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.

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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.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). The company had revenue of $135.40 million for the quarter, compared to the consensus estimate of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. equities analysts predict that Columbia Banking System will post 2.8 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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