Columbia Banking System (COLB) Reaches New 12-Month Low at $35.45
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.
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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