Columbia Banking System (NASDAQ:COLB) Stock Rating Upgraded by StockNews.com

Columbia Banking System (NASDAQ:COLB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other brokerages have also recently weighed in on COLB. Truist Financial dropped their price objective on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 1st. Raymond James cut Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 price target for the company. in a research note on Thursday, January 25th. TheStreet cut Columbia Banking System from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. DA Davidson lowered their price target on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Columbia Banking System in a research note on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.19.

Columbia Banking System Trading Up 1.0 %

Shares of Columbia Banking System stock traded up $0.20 during midday trading on Monday, reaching $20.37. The company had a trading volume of 2,064,694 shares, compared to its average volume of 2,871,569. The stock has a fifty day simple moving average of $18.68 and a 200 day simple moving average of $21.14. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $28.11. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 8.74 and a beta of 0.69.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to analysts’ expectations of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. Sell-side analysts expect that Columbia Banking System will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Elizabeth Whitehead Seaton purchased 2,685 shares of Columbia Banking System stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $18.48 per share, with a total value of $49,618.80. Following the transaction, the director now directly owns 25,001 shares in the company, valued at approximately $462,018.48. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Columbia Banking System

A number of large investors have recently bought and sold shares of COLB. EverSource Wealth Advisors LLC boosted its holdings in shares of Columbia Banking System by 1,506.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,326 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Columbia Banking System by 113.4% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,047 shares during the last quarter. First Pacific Financial acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at approximately $40,000. Headlands Technologies LLC acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at approximately $42,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Columbia Banking System in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.