Columbia Banking System (NASDAQ:COLB) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Columbia Banking System (NASDAQ:COLB) from a buy rating to a hold rating in a research report released on Tuesday, BidAskClub reports.

Several other brokerages also recently commented on COLB. Stephens restated a hold rating and issued a $38.00 target price on shares of Columbia Banking System in a research note on Thursday, October 24th. ValuEngine raised Columbia Banking System from a sell rating to a hold rating in a research note on Tuesday, October 29th. Royal Bank of Canada set a $40.00 price target on Columbia Banking System and gave the stock a hold rating in a report on Friday, October 25th. Finally, Zacks Investment Research cut Columbia Banking System from a hold rating to a sell rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has an average rating of Hold and an average target price of $38.67.

Columbia Banking System stock opened at $38.23 on Tuesday. The company has a market capitalization of $2.82 billion, a PE ratio of 14.69 and a beta of 1.08. Columbia Banking System has a 12-month low of $30.65 and a 12-month high of $40.87. The firm’s fifty day moving average is $39.11 and its 200 day moving average is $36.43. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.23.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Columbia Banking System had a net margin of 31.02% and a return on equity of 9.21%. The business had revenue of $150.48 million during the quarter, compared to analysts’ expectations of $146.70 million. During the same period last year, the company posted $0.63 earnings per share. Sell-side analysts expect that Columbia Banking System will post 2.67 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.12 annualized dividend and a yield of 2.93%. Columbia Banking System’s payout ratio is 45.34%.

In other Columbia Banking System news, EVP David C. Lawson sold 1,164 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $39.95, for a total value of $46,501.80. Following the transaction, the executive vice president now directly owns 16,544 shares of the company’s stock, valued at $660,932.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in shares of Columbia Banking System during the second quarter valued at approximately $26,000. TRUE Private Wealth Advisors purchased a new position in shares of Columbia Banking System in the second quarter worth about $86,000. Quantamental Technologies LLC lifted its stake in shares of Columbia Banking System by 205.5% in the 2nd quarter. Quantamental Technologies LLC now owns 2,982 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 2,006 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Columbia Banking System by 32.1% in the 2nd quarter. Captrust Financial Advisors now owns 3,995 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 970 shares during the last quarter. Finally, Strs Ohio lifted its stake in shares of Columbia Banking System by 14.3% in the 2nd quarter. Strs Ohio now owns 4,800 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 600 shares during the last quarter. 91.34% of the stock is owned by institutional investors.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

Read More: How Do Investors Open a Backdoor Roth IRA?

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.