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

Columbia Banking System (NASDAQ:COLB - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Monday.

COLB has been the subject of several other reports. Piper Sandler lowered their price objective on Columbia Banking System from $36.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, January 25th. Raymond James downgraded Columbia Banking System from a "strong-buy" rating to an "outperform" rating and set a $25.00 target price for the company. in a research note on Thursday, January 25th. UBS Group decreased their target price on Columbia Banking System from $28.00 to $21.50 and set a "neutral" rating for the company in a research note on Friday, January 26th. DA Davidson decreased their target price 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, Stephens downgraded Columbia Banking System from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $31.00 to $24.00 in a research note on Thursday, January 25th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.19.

Columbia Banking System Stock Performance

Shares of COLB stock traded up $0.20 during trading hours on Monday, hitting $20.37. 2,064,694 shares of the company were exchanged, compared to its average volume of 2,871,569. The stock 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 has a one year low of $17.08 and a one year high of $28.11. The business's 50-day simple moving average is $18.68 and its two-hundred day simple moving average is $21.14.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to analyst estimates of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. Columbia Banking System's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, analysts anticipate that Columbia Banking System will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, Director Elizabeth Whitehead Seaton purchased 2,685 shares of the business's stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $18.48 per share, with a total value of $49,618.80. Following the acquisition, the director now owns 25,001 shares of the company's stock, valued at $462,018.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Columbia Banking System

A number of institutional investors and hedge funds have recently bought and sold shares of COLB. EverSource Wealth Advisors LLC lifted its stake in Columbia Banking System by 1,506.8% during the third 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 in the last quarter. Fifth Third Bancorp grew its stake in Columbia Banking System by 113.4% during the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 1,047 shares in the last quarter. First Pacific Financial acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $40,000. Headlands Technologies LLC acquired a new position in shares of Columbia Banking System in the 4th quarter valued at about $42,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Columbia Banking System in the fourth quarter worth approximately $48,000. 92.53% of the stock is owned by institutional investors and hedge funds.

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.

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