Columbia Banking System (NASDAQ:COLB) Rating Increased to Hold at StockNews.com

by · The Cerbat Gem

Columbia Banking System (NASDAQ:COLB – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Raymond James upped their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Barclays lifted their price target on shares of Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Wedbush upgraded shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $31.00 in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.88.

Check Out Our Latest Stock Analysis on COLB

Columbia Banking System Stock Performance

NASDAQ COLB opened at $25.67 on Friday. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 11.02 and a beta of 0.64. The firm has a 50 day simple moving average of $24.62 and a 200-day simple moving average of $21.37. Columbia Banking System has a one year low of $17.08 and a one year high of $28.11.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Equities analysts predict that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in shares of Columbia Banking System by 43.8% in the third quarter. Handelsbanken Fonder AB now owns 57,421 shares of the financial services provider’s stock valued at $1,499,000 after buying an additional 17,500 shares during the last quarter. Ariadne Wealth Management LP acquired a new position in Columbia Banking System in the 2nd quarter valued at about $252,000. Cetera Investment Advisers raised its stake in Columbia Banking System by 135.8% during the 2nd quarter. Cetera Investment Advisers now owns 111,009 shares of the financial services provider’s stock valued at $2,208,000 after acquiring an additional 63,932 shares during the last quarter. Creative Planning lifted its position in Columbia Banking System by 39.2% during the 2nd quarter. Creative Planning now owns 42,063 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 11,836 shares during the period. Finally, Algert Global LLC lifted its position in Columbia Banking System by 6.2% during the 2nd quarter. Algert Global LLC now owns 321,874 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 18,708 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

About Columbia Banking System

(Get Free Report)

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.

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