Columbia Banking System Inc. (COLB) Sees Large Volume Increase
Shares of Columbia Banking System Inc. (NASDAQ:COLB) saw unusually-high trading volume on Wednesday . Approximately 450,120 shares traded hands during trading, an increase of 121% from the previous session’s volume of 203,425 shares.The stock last traded at $33.04 and had previously closed at $33.27.
COLB has been the subject of a number of recent research reports. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Keefe, Bruyette & Woods cut Columbia Banking System from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a research note on Friday, July 29th. Five analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $33.20.
The company has a 50 day moving average price of $31.12 and a 200 day moving average price of $29.76. The company has a market capitalization of $1.92 billion and a price-to-earnings ratio of 19.32.
Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. During the same quarter in the previous year, the business earned $0.38 earnings per share. Equities analysts anticipate that Columbia Banking System Inc. will post $1.76 EPS for the current year.
The firm also recently announced a dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a $0.39 dividend. The ex-dividend date was Monday, August 8th.
An institutional investor recently raised its position in Columbia Banking System stock. Wells Fargo & Company MN increased its stake in Columbia Banking System Inc. (NASDAQ:COLB) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,731 shares of the financial services provider’s stock after buying an additional 7,318 shares during the period. Wells Fargo & Company MN owned 0.56% of Columbia Banking System worth $10,427,000 at the end of the most recent 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.