Columbia Banking System, Inc. (COLB) Downgraded to Strong Sell at BidaskClub

Columbia Banking System, Inc. (NASDAQ:COLB) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also issued reports on COLB. Piper Jaffray Companies decreased their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. Zacks Investment Research lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research note on Tuesday, May 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.40.

Columbia Banking System (NASDAQ COLB) opened at 37.22 on Friday. The firm has a market capitalization of $2.17 billion, a PE ratio of 18.88 and a beta of 1.22. Columbia Banking System has a one year low of $31.14 and a one year high of $45.68. The company’s 50-day moving average price is $39.32 and its 200 day moving average price is $39.27.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $110.30 million for the quarter, compared to the consensus estimate of $112.27 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. During the same period in the previous year, the business posted $0.44 earnings per share. On average, analysts forecast that Columbia Banking System will post $2.03 earnings per share for the current year.

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In other Columbia Banking System news, CFO Clint Stein sold 8,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $40.09, for a total transaction of $320,720.00. Following the completion of the transaction, the chief financial officer now directly owns 22,877 shares of the company’s stock, valued at approximately $917,138.93. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.23% of the company’s stock.

A number of institutional investors have recently modified their holdings of COLB. AQR Capital Management LLC purchased a new position in shares of Columbia Banking System during the fourth quarter worth about $248,000. Teachers Advisors LLC increased its stake in shares of Columbia Banking System by 19.1% in the fourth quarter. Teachers Advisors LLC now owns 364,744 shares of the financial services provider’s stock worth $16,297,000 after buying an additional 58,452 shares during the period. Bank of Montreal Can increased its stake in shares of Columbia Banking System by 193.2% in the first quarter. Bank of Montreal Can now owns 52,407 shares of the financial services provider’s stock worth $2,043,000 after buying an additional 34,534 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Columbia Banking System by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the financial services provider’s stock worth $924,000 after buying an additional 400 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Columbia Banking System by 2.9% in the first quarter. Nationwide Fund Advisors now owns 88,645 shares of the financial services provider’s stock worth $3,456,000 after buying an additional 2,534 shares during the period. 95.46% of the stock is owned by hedge funds and other institutional investors.

About Columbia Banking System

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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