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Columbia Banking System (NASDAQ:COLB) Now Covered by Wall Street Zen

Columbia Banking System logo with Finance background

Equities researchers at Wall Street Zen assumed coverage on shares of Columbia Banking System (NASDAQ:COLB - Get Free Report) in a report released on Thursday. The brokerage set a "hold" rating on the financial services provider's stock.

Other analysts have also recently issued reports about the stock. Stephens reduced their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price objective on shares of Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Royal Bank of Canada reduced their price objective on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group began coverage on shares of Columbia Banking System in a research note on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.64.

Check Out Our Latest Analysis on Columbia Banking System

Columbia Banking System Trading Up 2.4%

NASDAQ COLB traded up $0.56 during trading on Thursday, reaching $24.15. The company's stock had a trading volume of 1,488,959 shares, compared to its average volume of 1,783,159. The stock has a market capitalization of $5.08 billion, a PE ratio of 9.51 and a beta of 0.59. The business has a 50-day moving average price of $23.38 and a 200-day moving average price of $26.37. Columbia Banking System has a 1-year low of $18.11 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. The firm had revenue of $481.92 million during the quarter, compared to analysts' expectations of $482.86 million. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. The company's revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, analysts expect that Columbia Banking System will post 2.71 earnings per share for the current year.

Insider Activity at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now directly owns 104,869 shares in the company, valued at $2,725,545.31. This represents a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Columbia Banking System

Institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in Columbia Banking System in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. bought a new stake in Columbia Banking System in the 4th quarter valued at $32,000. Geneos Wealth Management Inc. increased its holdings in Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after buying an additional 794 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Columbia Banking System in the 1st quarter valued at $37,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Columbia Banking System in the 4th quarter valued at $42,000. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Company Profile

(Get Free Report)

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.

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