Columbia Banking System Inc. (NASDAQ:COLB) shares gapped up prior to trading on Friday . The stock had previously closed at $26.84, but opened at $27.19. Columbia Banking System shares last traded at $28.01, with a volume of 49,188 shares trading hands.

A number of brokerages have issued reports on COLB. Zacks Investment Research downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday, April 29th. Piper Jaffray Cos. downgraded Columbia Banking System from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $31.00 in a research note on Friday, April 29th.

The firm has a 50 day moving average price of $28.73 and a 200 day moving average price of $29.47. The firm has a market cap of $1.62 billion and a PE ratio of 16.84.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, April 28th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by $0.09. Equities research analysts anticipate that Columbia Banking System Inc. will post $1.75 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its stake in Columbia Banking System by 9.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 45,926 shares of the financial services provider’s stock worth $1,493,000 after buying an additional 3,929 shares in the last quarter. California State Teachers Retirement System increased its stake in Columbia Banking System by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 106,946 shares of the financial services provider’s stock worth $3,477,000 after buying an additional 1,779 shares in the last quarter. Rhumbline Advisers increased its stake in Columbia Banking System by 5.1% in the fourth quarter. Rhumbline Advisers now owns 118,594 shares of the financial services provider’s stock worth $3,855,000 after buying an additional 5,760 shares in the last quarter. Comerica Bank increased its stake in Columbia Banking System by 3.3% in the fourth quarter. Comerica Bank now owns 119,072 shares of the financial services provider’s stock worth $3,535,000 after buying an additional 3,846 shares in the last quarter. Finally, Monarch Partners Asset Management LLC increased its stake in Columbia Banking System by 80.1% in the fourth quarter. Monarch Partners Asset Management LLC now owns 123,111 shares of the financial services provider’s stock worth $4,002,000 after buying an additional 54,736 shares in the last quarter.

Columbia Banking System, Inc is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho.

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