Columbia Banking System, Inc. (NASDAQ:COLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly owned subsidiary, Columbia State Bank,conducts a full-service commercial banking business. Headquartered in Tacoma, Washington, the Company provides a full range of banking services to small and medium-sized businesses, professionals and other individuals through banking offices located in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington. “

Several other research firms have also issued reports on COLB. DA Davidson restated a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. BidaskClub lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies upgraded shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 price objective on shares of Columbia Banking System in a research report on Friday, July 28th. One 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 company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.60.

Columbia Banking System (NASDAQ:COLB) opened at $42.55 on Wednesday. The stock has a market cap of $3,166.82, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24. Columbia Banking System has a 12-month low of $35.59 and a 12-month high of $45.68.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million for the quarter, compared to analyst estimates of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share. research analysts forecast that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Columbia Banking System by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock worth $217,272,000 after purchasing an additional 88,252 shares in the last quarter. State Street Corp grew its position in Columbia Banking System by 74.9% during the 1st quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock worth $107,399,000 after purchasing an additional 1,179,254 shares in the last quarter. Franklin Resources Inc. grew its position in Columbia Banking System by 11.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,708,796 shares of the financial services provider’s stock worth $107,946,000 after purchasing an additional 273,200 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Columbia Banking System by 1.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,114,137 shares of the financial services provider’s stock worth $84,248,000 after purchasing an additional 26,549 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Columbia Banking System by 44.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,884,233 shares of the financial services provider’s stock valued at $75,087,000 after acquiring an additional 581,814 shares in the last quarter. Hedge funds and other institutional investors own 95.60% 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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