BidaskClub cut shares of Columbia Banking System, Inc. (NASDAQ:COLB) from a hold rating to a sell rating in a report published on Tuesday morning.

COLB has been the topic of several other research reports. Zacks Investment Research lowered shares of Columbia Banking System from a buy rating to a hold rating in a report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a hold rating and issued a $44.00 target price on shares of Columbia Banking System in a report on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $44.00 target price on shares of Columbia Banking System in a report on Friday, June 16th. Finally, Piper Jaffray Companies lowered their target price on shares of Columbia Banking System from $43.00 to $41.00 and set a neutral rating on the stock in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $43.40.

Columbia Banking System (NASDAQ:COLB) traded down 2.49% on Tuesday, hitting $38.40. 280,290 shares of the stock traded hands. Columbia Banking System has a 12-month low of $29.95 and a 12-month high of $45.68. The stock has a 50-day moving average of $39.72 and a 200-day moving average of $39.45. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 19.48 and a beta of 1.22.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $110.30 million during the quarter, compared to the consensus estimate of $112.27 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. During the same period last year, the firm earned $0.44 EPS. Analysts forecast that Columbia Banking System will post $2.04 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Columbia Banking System, Inc. (COLB) Downgraded to “Sell” at BidaskClub” was published by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/columbia-banking-system-inc-colb-downgraded-to-sell-at-bidaskclub/1461427.html.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, August 7th. Columbia Banking System’s payout ratio is 44.67%.

In other Columbia Banking System news, CFO Clint Stein sold 8,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $40.09, for a total transaction of $320,720.00. Following the sale, the chief financial officer now owns 22,877 shares of the company’s stock, valued at approximately $917,138.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.23% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Columbia Banking System by 49,309.5% in the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after buying an additional 7,192,784 shares in the last quarter. State Street Corp raised its stake in shares of Columbia Banking System by 74.9% in the first quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock worth $107,399,000 after buying an additional 1,179,254 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Columbia Banking System by 109.9% in the first quarter. Neuberger Berman Group LLC now owns 1,302,419 shares of the financial services provider’s stock worth $50,781,000 after buying an additional 681,910 shares in the last quarter. Norges Bank bought a new stake in shares of Columbia Banking System during the fourth quarter worth approximately $18,717,000. Finally, Tributary Capital Management LLC bought a new stake in shares of Columbia Banking System during the second quarter worth approximately $12,655,000. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for Columbia Banking System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.