Columbia Banking System, Inc. (COLB) Given Buy Rating at DA Davidson
DA Davidson reissued their buy rating on shares of Columbia Banking System, Inc. (NASDAQ:COLB) in a research report report published on Tuesday. DA Davidson currently has a $48.00 price objective on the financial services provider’s stock, up from their prior price objective of $45.00.
Other equities research analysts have also issued reports about the company. Royal Bank Of Canada reissued a hold rating and issued a $42.00 price target on shares of Columbia Banking System in a research report on Friday, July 28th. Zacks Investment Research raised Columbia Banking System from a sell rating to a hold rating in a research report on Wednesday, July 26th. BidaskClub lowered Columbia Banking System from a hold rating to a sell rating in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies raised Columbia Banking System from a neutral rating to an overweight rating and increased their price target for the company from $43.00 to $46.00 in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned 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 $45.00.
Columbia Banking System (COLB) traded up 0.41% during trading on Tuesday, hitting $41.70. 53,990 shares of the company traded hands. The firm has a market capitalization of $2.43 billion, a P/E ratio of 21.18 and a beta of 1.26. The stock has a 50-day moving average price of $39.51 and a 200-day moving average price of $39.05. Columbia Banking System has a 12-month low of $31.75 and a 12-month high of $45.68.
Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. During the same period in the previous year, the company posted $0.44 earnings per share. Equities analysts expect that Columbia Banking System will post $2.03 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in COLB. Flinton Capital Management LLC grew its stake in Columbia Banking System by 98.1% in the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,648 shares during the period. D.A. Davidson & CO. grew its stake in Columbia Banking System by 2.1% in the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares during the period. Dubuque Bank & Trust Co. bought a new position in Columbia Banking System in the 2nd quarter valued at $188,000. Riverhead Capital Management LLC grew its stake in Columbia Banking System by 102.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 2,662 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Columbia Banking System by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.
Columbia Banking System Company Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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