Columbia Banking System Inc (NASDAQ:COLB)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $35.45 and last traded at $35.17, with a volume of 14800 shares. The stock had previously closed at $35.95.

A number of equities analysts have issued reports on COLB shares. BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Finally, ValuEngine downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Columbia Banking System has an average rating of “Hold” and an average target price of $48.20.

The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.44 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $140.37 million during the quarter, compared to analysts’ expectations of $143.03 million. Columbia Banking System had a net margin of 25.30% and a return on equity of 9.13%. During the same quarter last year, the business earned $0.47 EPS. Analysts forecast that Columbia Banking System Inc will post 2.5 earnings per share for the current fiscal year.

In other news, EVP David C. Lawson sold 1,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the transaction, the executive vice president now owns 15,460 shares in the company, valued at $647,464.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.06% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Laurion Capital Management LP purchased a new position in shares of Columbia Banking System in the second quarter valued at approximately $419,000. CIBC World Markets Inc. purchased a new position in shares of Columbia Banking System in the first quarter valued at approximately $424,000. Xact Kapitalforvaltning AB lifted its position in shares of Columbia Banking System by 40.6% in the first quarter. Xact Kapitalforvaltning AB now owns 11,088 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 3,200 shares in the last quarter. Ramsey Quantitative Systems lifted its position in shares of Columbia Banking System by 176.7% in the second quarter. Ramsey Quantitative Systems now owns 15,421 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 9,848 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Columbia Banking System in the second quarter valued at approximately $634,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Columbia Banking System Company Profile (NASDAQ:COLB)

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.

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