StockNews.com Upgrades Columbia Banking System (NASDAQ:COLB) to Hold

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Colombia Banking System (NASDAQ:COLB – Get a rating) has been upgraded by StockNews.com from a “sell” to a “hold” rating in a note issued to investors on Friday.

The COLB has been the subject of several other reports. Zacks Investment Research downgraded Columbia Banking System from a “hold” rating to a “strong sell” rating in a Monday, January 24 research report. Keefe, Bruyette & Woods began covering Columbia Banking System in a research report on Friday, February 11. They issued a “market performance” rating for the company. One equity research analyst gave the stock a sell rating, four gave the company a hold rating and two gave the company a buy rating. Based on MarketBeat data, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $38.20.

NASDAQ:COLB shares opened at $34.57 on Friday. The company has a 50-day moving average price of $35.45 and a 200-day moving average price of $35.17. The company has a market capitalization of $2.72 billion, a price-earnings ratio of 12.39 and a beta of 0.66. Columbia Banking System has a 12-month low of $30.09 and a 12-month high of $50.68.

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Colombia Banking System (NASDAQ:COLB – Get a rating) last reported results on Wednesday, January 19. The financial services provider reported earnings per share of $0.67 for the quarter, beating the consensus estimate of $0.56 by $0.11. The company posted revenue of $169.76 million in the quarter, versus a consensus estimate of $164.60 million. Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. During the same period of the previous year, the company posted EPS of $0.82. On average, sell-side analysts expect Columbia Banking System to post 2.65 EPS for the current year.

In other news, CFO Aaron James Cerf bought 3,000 shares of the company in a transaction on Thursday, February 24. The shares were purchased at an average price of $33.45 per share, with a total value of $100,350.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Insiders own 0.57% of the shares of the company.

Several large investors have recently increased or reduced their stake in the company. BlackRock Inc. increased its holdings of Columbia Banking System stock 8.8% in the fourth quarter. BlackRock Inc. now owns 11,456,349 shares of the financial services provider valued at $374,853,000 after purchasing an additional 928,840 shares during the period. State Street Corp increased its holdings of Columbia Banking System stock 38.2% in the fourth quarter. State Street Corp now owns 4,957,374 shares of the financial services provider valued at $162,205,000 after purchasing an additional 1,370,893 shares during the period. Dimensional Fund Advisors LP increased its holdings in Columbia Banking System by 15.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,348,653 shares of the financial services provider worth $109,568,000 after acquiring an additional 458,588 shares during the period. Goldman Sachs Group Inc. increased its stake in Columbia Banking System by 19.5% during the third quarter. Goldman Sachs Group Inc. now owns 2,782,593 shares of the financial services provider worth $105,711,000 after acquiring an additional 453,962 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Columbia Banking System by 9.3% during the third quarter. Victory Capital Management Inc. now owns 2,547,074 shares of the financial services provider worth $96,763,000 after acquiring an additional 215,749 shares during the period. 84.11% of the shares are currently held by institutional investors and hedge funds.

About the Columbia Banking System (Get a rating)

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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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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