Weiss Ratings Reaffirms Hold (C+) Rating for Columbia Banking System (NASDAQ:COLB)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Columbia Banking System (NASDAQ:COLB), indicating a cautious outlook from analysts.
• Columbia Banking System's stock increased by 2.2% to $26.27, with a market capitalization of $5.52 billion and a P/E ratio of 10.41.
• The current consensus rating for Columbia Banking System reflects one Strong Buy, four Buy ratings, and thirteen Holds, with an average price target of $29.33.

Columbia Banking System (NASDAQ:COLB - Get Free Report)'s stock had its "hold (c+)" rating reiterated by stock analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

COLB has been the topic of a number of other research reports. Zacks Research cut shares of Columbia Banking System from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. TD Cowen initiated coverage on shares of Columbia Banking System in a research note on Thursday, September 25th. They issued a "hold" rating and a $28.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Finally, Raymond James Financial upgraded shares of Columbia Banking System from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $27.00 to $31.00 in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $29.33.

Columbia Banking System Stock Up 2.2%

Shares of NASDAQ:COLB traded up $0.56 during midday trading on Tuesday, reaching $26.27. The company's stock had a trading volume of 1,173,452 shares, compared to its average volume of 2,713,200. The firm has a 50 day moving average of $25.97 and a 200-day moving average of $24.36. The firm has a market capitalization of $5.52 billion, a P/E ratio of 10.41 and a beta of 0.60. Columbia Banking System has a 12-month low of $19.61 and a 12-month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. The firm had revenue of $348.47 million for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. On average, research analysts predict that Columbia Banking System will post 2.71 EPS for the current year.

Institutional Investors Weigh In On Columbia Banking System

Hedge funds and other institutional investors have recently made changes to their positions in the business. West Oak Capital LLC purchased a new stake in shares of Columbia Banking System during the 3rd quarter valued at about $28,000. Geneos Wealth Management Inc. increased its position in shares of Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 794 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Columbia Banking System during the 1st quarter valued at about $37,000. Bessemer Group Inc. increased its position in shares of Columbia Banking System by 53.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 624 shares during the last quarter. Finally, Financial Harvest LLC purchased a new stake in shares of Columbia Banking System during the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 92.53% of the company's stock.

Columbia Banking System Company Profile

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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