BidaskClub Downgrades Columbia Banking System (NASDAQ:COLB) to Hold

BidaskClub cut shares of Columbia Banking System (NASDAQ:COLB) from a buy rating to a hold rating in a research report released on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on COLB. Zacks Investment Research cut Columbia Banking System from a hold rating to a sell rating in a research report on Monday, October 7th. ValuEngine upgraded Columbia Banking System from a sell rating to a hold rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $38.00 price target on Columbia Banking System and gave the company a hold rating in a research report on Friday, July 26th. Finally, Stephens reiterated a hold rating and set a $37.00 price target on shares of Columbia Banking System in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $41.43.

Shares of Columbia Banking System stock opened at $36.09 on Tuesday. The stock’s 50-day simple moving average is $35.76 and its 200 day simple moving average is $35.46. Columbia Banking System has a 52-week low of $30.65 and a 52-week high of $41.05. The stock has a market capitalization of $2.63 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 0.86.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. The firm had revenue of $150.76 million for the quarter, compared to analysts’ expectations of $147.22 million. During the same period in the prior year, the business posted $0.57 earnings per share. Equities research analysts forecast that Columbia Banking System will post 2.54 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of Columbia Banking System by 13.4% during the second quarter. First Trust Advisors LP now owns 100,356 shares of the financial services provider’s stock worth $3,631,000 after purchasing an additional 11,843 shares in the last quarter. Comerica Bank grew its holdings in shares of Columbia Banking System by 2.1% during the second quarter. Comerica Bank now owns 120,822 shares of the financial services provider’s stock worth $4,248,000 after purchasing an additional 2,451 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Columbia Banking System by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 28,873 shares of the financial services provider’s stock worth $1,045,000 after purchasing an additional 500 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Columbia Banking System by 0.4% during the second quarter. Northern Trust Corp now owns 1,441,014 shares of the financial services provider’s stock worth $52,137,000 after purchasing an additional 6,244 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Columbia Banking System by 6.7% during the first quarter. New York State Common Retirement Fund now owns 104,146 shares of the financial services provider’s stock worth $3,405,000 after purchasing an additional 6,545 shares in the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.

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.

Featured Article: Why is the ex-dividend date different from the record date?

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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