Zacks Investment Research upgraded shares of Columbia Banking System, Inc. (NASDAQ:COLB) from a hold rating to a buy rating in a research note published on Wednesday. The firm currently has $45.00 price target on the financial services provider’s stock.

According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly owned subsidiary, Columbia State Bank,conducts a full-service commercial banking business. Headquartered in Tacoma, Washington, the Company provides a full range of banking services to small and medium-sized businesses, professionals and other individuals through banking offices located in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington. “

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada reiterated a hold rating and issued a $42.00 target price on shares of Columbia Banking System in a research note on Friday, September 8th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $44.00 target price on shares of Columbia Banking System in a research note on Friday, June 16th. Piper Jaffray Companies upgraded Columbia Banking System from a neutral rating to an overweight rating and raised their target price for the company from $43.00 to $46.00 in a research note on Monday, July 31st. Finally, BidaskClub cut Columbia Banking System from a hold rating to a sell rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Columbia Banking System presently has a consensus rating of Hold and a consensus price target of $44.40.

Shares of Columbia Banking System (NASDAQ:COLB) traded down 0.87% during trading on Wednesday, reaching $42.11. 478,070 shares of the company’s stock were exchanged. The company’s 50-day moving average is $37.64 and its 200 day moving average is $38.69. Columbia Banking System has a 52 week low of $31.75 and a 52 week high of $45.68. The stock has a market capitalization of $2.46 billion, a PE ratio of 21.39 and a beta of 1.24.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company 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 quarter in the previous year, the business posted $0.44 earnings per share. On average, analysts forecast that Columbia Banking System will post $2.03 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of COLB. Wells Fargo & Company MN raised its stake in shares of Columbia Banking System by 32.9% during the first quarter. Wells Fargo & Company MN now owns 188,843 shares of the financial services provider’s stock valued at $7,362,000 after purchasing an additional 46,732 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Columbia Banking System by 2.4% during the first quarter. Suntrust Banks Inc. now owns 7,697 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 177 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Columbia Banking System during the first quarter valued at about $479,000. Sei Investments Co. raised its stake in shares of Columbia Banking System by 9.8% during the first quarter. Sei Investments Co. now owns 10,942 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 973 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Columbia Banking System by 3.2% during the first quarter. Ameriprise Financial Inc. now owns 557,754 shares of the financial services provider’s stock valued at $21,747,000 after purchasing an additional 17,047 shares in the last quarter. Institutional investors and hedge funds own 96.24% of the company’s stock.

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.

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