Columbia Banking System Inc (COLB) Receives Average Recommendation of “Hold” from Analysts
Columbia Banking System Inc (NASDAQ:COLB) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $42.60.
Several research firms have commented on COLB. BidaskClub upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Friday, March 29th. DA Davidson downgraded shares of Columbia Banking System from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $38.00 in a report on Monday, March 18th. Stephens began coverage on shares of Columbia Banking System in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Finally, ValuEngine downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, February 14th.
COLB traded up $0.06 during trading on Thursday, reaching $34.26. 41,351 shares of the stock were exchanged, compared to its average volume of 444,356. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.90 and a beta of 0.98. Columbia Banking System has a twelve month low of $30.65 and a twelve month high of $45.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.
In other Columbia Banking System news, COO Clint Stein sold 657 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $38.32, for a total value of $25,176.24. Following the transaction, the chief operating officer now directly owns 24,644 shares in the company, valued at $944,358.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank bought a new stake in shares of Columbia Banking System in the fourth quarter valued at about $25,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Columbia Banking System in the fourth quarter valued at about $28,000. Advisors Preferred LLC bought a new stake in shares of Columbia Banking System in the fourth quarter valued at about $31,000. Advisor Group Inc. boosted its position in shares of Columbia Banking System by 9.2% in the fourth quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 307 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Columbia Banking System by 18.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the financial services provider’s stock valued at $179,000 after acquiring an additional 757 shares during the period. 91.40% of the stock is owned by institutional investors.
Columbia Banking System Company Profile
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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