Keefe, Bruyette & Woods investment analysts assumed a hedge on the shares of Colombia Banking System (NASDAQ:COLB) in a research report released on Friday, Fly reports. The brokerage has set a “market performance” rating on the shares of the financial services provider.
Several other brokerages also commented on COLB. Zacks Investment Research downgraded Columbia Banking System from a “hold” rating to a “strong sell” rating in a Monday, Jan. 24 report. Raymond James lowered its price target on Columbia Banking System from $43.00 to $40.00 and set an “outperform” rating on the stock in a Monday, Nov. 1, report. One research analyst rated the stock with a sell rating, four gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average target price of $39.67.
Columbia Banking System Action opened at $35.83 on Friday. The company has a market capitalization of $2.81 billion, a price-earnings ratio of 12.84 and a beta of 0.69. Columbia Banking System has a 52-week low of $30.09 and a 52-week high of $50.68. The company’s 50-day moving average price is $34.28 and its 200-day moving average price is $35.14.
Columbia Banking System (NASDAQ:COLB) last reported results on Wednesday, January 19. The financial services provider reported EPS of $0.55 for the quarter, missing the consensus estimate of $0.59 per ($0.04). Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. During the same period last year, the company achieved EPS of $0.82. On average, sell-side analysts expect Columbia Banking System to post earnings per share of 2.65 for the current fiscal year.
In other Columbia Banking System news, Director Tom Hubert bought 11,073 shares of Columbia Banking System in a trade on Friday, November 26. The shares were purchased at an average price of $32.21 per share, for a total transaction of $356,661.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. 0.57% of the shares are held by insiders.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Columbia Banking System by 0.3% during the third quarter. BlackRock Inc. now owns 10,527,509 shares of the financial services provider worth $399,940,000 after acquiring 36,188 additional shares last quarter. Vanguard Group Inc. increased its holdings of Columbia Banking System shares by 2.0% in the second quarter. Vanguard Group Inc. now owns 7,930,832 shares of the financial services provider valued at $305,813,000 after purchasing an additional 152,814 shares in the last quarter. State Street Corp increased its holdings of Columbia Banking System stock 9.7% in Q2. State Street Corp now owns 3,770,434 shares of the financial services provider valued at $145,388,000 after purchasing an additional 333,789 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of Columbia Banking System shares by 15.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,348,653 shares of the financial services provider valued at $109,568,000 after buying an additional 458,588 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Columbia Banking System by 19.5% in the third quarter. Goldman Sachs Group Inc. now owns 2,782,593 shares of the financial services provider valued at $105,711,000 after buying an additional 453,962 shares in the last quarter. 84.14% of the shares are held by hedge funds and other institutional investors.
About the Columbia Banking System
Columbia Banking System, Inc is a bank holding company that provides financial services. She specializes in the management of individuals, companies and assets. It offers checking and savings accounts, debit and credit cards, digital banking, personal loans, home loans, foreign exchange, business banking, cash management, card services merchant banking, international banking, financial services, private banking, and trust and investment services.
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