Columbia Banking System (COLB) Receives Coverage Optimism Score of 0.19
Media coverage about Columbia Banking System (NASDAQ:COLB) has been trending somewhat positive on Tuesday, Accern reports. Accern rates the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Columbia Banking System earned a news impact score of 0.19 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 45.9779116577112 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have effected Accern’s rankings:
- Columbia Banking System Inc (COLB) Given Consensus Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Columbia Banking System (COLB) Upgraded at BidaskClub (americanbankingnews.com)
- Zacks: Analysts Anticipate Columbia Banking System Inc (COLB) Will Post Quarterly Sales of $134.21 Million (americanbankingnews.com)
- Columbia Bank’s Third Annual Warm Hearts Winter Drive Raises Over $220,000 To Benefit Northwest Homeless Shelters (finance.yahoo.com)
COLB has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Columbia Banking System from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, September 27th. DA Davidson reiterated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. BidaskClub lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 target price on shares of Columbia Banking System in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.40.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.18. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The business had revenue of $126.00 million for the quarter, compared to analyst estimates of $119.16 million. During the same period last year, the business earned $0.47 EPS. The company’s revenue was up 16.9% on a year-over-year basis. analysts anticipate that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.
In other news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, the chief accounting officer now directly owns 11,250 shares in the company, valued at approximately $527,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is currently owned by company insiders.
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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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