BidaskClub Lowers Columbia Banking System (COLB) to Strong Sell

BidaskClub cut shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning.

Separately, Zacks Investment Research upgraded Columbia Banking System from a sell rating to a hold rating in a report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $48.20.

Shares of NASDAQ COLB opened at $38.71 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $2.89 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.58 and a beta of 1.09. Columbia Banking System has a 52-week low of $38.62 and a 52-week high of $48.06.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.04). The company had revenue of $140.37 million during the quarter, compared to analyst estimates of $143.03 million. Columbia Banking System had a return on equity of 9.13% and a net margin of 25.30%. During the same quarter in the previous year, the firm earned $0.47 earnings per share. research analysts expect that Columbia Banking System will post 2.5 EPS for the current fiscal year.

In related news, EVP David C. Lawson sold 1,813 shares of Columbia Banking System stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the transaction, the executive vice president now directly owns 15,460 shares in the company, valued at approximately $647,464.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.23% of the company’s stock.

Several institutional investors have recently modified their holdings of COLB. SG Americas Securities LLC acquired a new stake in shares of Columbia Banking System in the first quarter worth $199,000. Citigroup Inc. boosted its position in shares of Columbia Banking System by 208.0% in the first quarter. Citigroup Inc. now owns 7,916 shares of the financial services provider’s stock worth $331,000 after buying an additional 5,346 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Columbia Banking System in the second quarter worth $419,000. CIBC World Markets Inc. acquired a new stake in shares of Columbia Banking System in the first quarter worth $424,000. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Columbia Banking System by 40.6% in the first quarter. Xact Kapitalforvaltning AB now owns 11,088 shares of the financial services provider’s stock worth $465,000 after buying an additional 3,200 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

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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