ValuEngine upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a research report report published on Friday.

COLB has been the topic of several other reports. Piper Jaffray Companies set a $48.00 target price on shares of Columbia Banking System and gave the company a buy rating in a report on Saturday, October 27th. Zacks Investment Research upgraded shares of Columbia Banking System from a sell rating to a hold rating in a report on Friday, September 7th. Finally, BidaskClub raised shares of Columbia Banking System from a sell rating to a hold rating in a research note on Saturday, July 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $45.33.

NASDAQ:COLB opened at $38.97 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.18 and a beta of 1.05. Columbia Banking System has a 1-year low of $31.35 and a 1-year high of $48.06.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $143.82 million during the quarter, compared to analyst estimates of $143.24 million. Columbia Banking System had a net margin of 25.35% and a return on equity of 8.66%. Equities analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, November 6th. Columbia Banking System’s dividend payout ratio (DPR) is 47.49%.

In other news, EVP David C. Lawson sold 1,813 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $41.88, for a total value of $75,928.44. Following the sale, the executive vice president now directly owns 15,460 shares of the company’s stock, valued at approximately $647,464.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new stake in shares of Columbia Banking System in the 3rd quarter valued at approximately $229,000. Cpwm LLC purchased a new stake in shares of Columbia Banking System in the 3rd quarter valued at approximately $240,000. Glenmede Trust Co. NA raised its stake in shares of Columbia Banking System by 53.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 8,233 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 2,873 shares during the period. Laurion Capital Management LP purchased a new stake in shares of Columbia Banking System in the 2nd quarter valued at approximately $419,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Columbia Banking System in the 3rd quarter valued at approximately $429,000. 87.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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