Somewhat Positive Press Coverage Somewhat Unlikely to Affect Columbia Banking System (COLB) Stock Price

Headlines about Columbia Banking System (NASDAQ:COLB) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Columbia Banking System earned a news impact score of 0.09 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 45.4826633952741 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Columbia Banking System (COLB) traded down $0.38 during midday trading on Monday, hitting $44.76. The stock had a trading volume of 170,200 shares, compared to its average volume of 361,924. The company has a market capitalization of $2,590.00, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 2.05 and a beta of 1.24. Columbia Banking System has a 52-week low of $35.67 and a 52-week high of $48.06.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million during the quarter, compared to the consensus estimate of $119.16 million. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. sell-side analysts expect that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Royal Bank of Canada restated a “hold” rating and set a $42.00 price objective on shares of Columbia Banking System in a report on Friday, September 8th. BidaskClub downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, DA Davidson restated a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $45.60.

In related news, CAO Barry Ray sold 750 shares of Columbia Banking System stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total transaction of $35,152.50. Following the transaction, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at $527,287.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.23% of the stock is owned by insiders.

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Columbia Banking System Company Profile

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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