Columbia Banking System (NASDAQ:COLB – Get Rating) was downgraded by Zacks Investment Research from a “purchase” score to a “maintain” score in a analysis word issued to traders on Friday, Zacks.com reviews.
Based on Zacks, “Columbia Banking System, Inc. is a registered financial institution holding firm whose wholly owned subsidiary, Columbia State Financial institution,conducts a full-service industrial banking enterprise. Headquartered in Tacoma, Washington, the Firm gives a full vary of banking providers to small and medium-sized companies, professionals and different people via banking places of work situated within the Tacoma metropolitan space and contiguous components of the Puget Sound area of Washington, in addition to the Longview and Woodland communities in southwestern Washington. “
A number of different analysis analysts have additionally just lately commented on COLB. Piper Sandler lowered their value goal on shares of Columbia Banking System from $35.00 to $31.00 in a report on Monday, Could 2nd. StockNews.com started protection on shares of Columbia Banking System in a report on Thursday, March thirty first. They set a “maintain” score for the corporate. Raymond James lowered their value goal on shares of Columbia Banking System from $40.00 to $38.00 and set an “outperform” score for the corporate in a report on Friday, April twenty second. Royal Financial institution of Canada upped their goal value on shares of Columbia Banking System from $35.00 to $36.00 and gave the corporate a “sector carry out” score in a report on Friday, April twenty second. Lastly, Keefe, Bruyette & Woods started protection on shares of Columbia Banking System in a report on Friday, February eleventh. They issued a “market carry out” score for the corporate. 5 analysis analysts have rated the inventory with a maintain score and two have issued a purchase score to the corporate’s inventory. Based on MarketBeat.com, the corporate at the moment has a consensus score of “Maintain” and a consensus goal value of $36.00.
COLB traded up $0.48 on Friday, reaching $28.78. 660,051 shares of the corporate’s inventory had been exchanged, in comparison with its common quantity of 860,714. The inventory’s fifty day transferring common value is $30.99 and its 200-day transferring common value is $33.42. Columbia Banking System has a twelve month low of $27.61 and a twelve month excessive of $44.13. The inventory has a market cap of $2.26 billion, a PE ratio of 10.28 and a beta of 0.68.
Columbia Banking System (NASDAQ:COLB – Get Rating) final launched its quarterly earnings outcomes on Thursday, April twenty first. The monetary providers supplier reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. The enterprise had income of $170.38 million for the quarter, in comparison with the consensus estimate of $166.09 million. Columbia Banking System had a web margin of 31.91% and a return on fairness of 9.30%. The enterprise’s income was up 15.8% on a year-over-year foundation. Throughout the identical interval within the earlier yr, the agency earned $0.73 EPS. Analysts anticipate that Columbia Banking System will put up 2.6 EPS for the present yr.
In associated information, CFO Aaron James Deer bought 3,000 shares of the enterprise’s inventory in a transaction dated Monday, Could 2nd. The inventory was acquired at a mean value of $28.00 per share, for a complete transaction of $84,000.00. Following the acquisition, the chief monetary officer now immediately owns 15,427 shares of the corporate’s inventory, valued at roughly $431,956. The transaction was disclosed in a authorized submitting with the SEC, which will be accessed via the SEC website. 0.62% of the inventory is at the moment owned by company insiders.
Institutional traders and hedge funds have just lately made adjustments to their positions within the firm. BlackRock Inc. grew its stake in Columbia Banking System by 1.0% within the 1st quarter. BlackRock Inc. now owns 11,571,436 shares of the monetary providers supplier’s inventory valued at $373,410,000 after buying a further 115,087 shares over the past quarter. Vanguard Group Inc. grew its stake in Columbia Banking System by 2.0% within the 1st quarter. Vanguard Group Inc. now owns 9,088,462 shares of the monetary providers supplier’s inventory valued at $293,285,000 after buying a further 180,175 shares over the past quarter. State Avenue Corp grew its stake in Columbia Banking System by 17.2% within the 1st quarter. State Avenue Corp now owns 5,810,585 shares of the monetary providers supplier’s inventory valued at $187,508,000 after buying a further 853,211 shares over the past quarter. Dimensional Fund Advisors LP grew its stake in Columbia Banking System by 8.6% within the 1st quarter. Dimensional Fund Advisors LP now owns 3,636,756 shares of the monetary providers supplier’s inventory valued at $117,361,000 after buying a further 288,103 shares over the past quarter. Lastly, Goldman Sachs Group Inc. grew its stake in Columbia Banking System by 19.5% within the third quarter. Goldman Sachs Group Inc. now owns 2,782,593 shares of the monetary providers supplier’s inventory valued at $105,711,000 after buying a further 453,962 shares over the past quarter. Institutional traders and hedge funds personal 94.44% of the corporate’s inventory.
Columbia Banking System Firm Profile (Get Rating)
Columbia Banking System, Inc operates because the financial institution holding firm for Columbia State Financial institution that gives a variety of banking providers to small and medium-sized companies, professionals, and people in the US. It affords private banking services, together with noninterest and interest-bearing checking, financial savings, cash market, and certificates of deposit accounts; residence mortgages for purchases and refinances, residence fairness loans and features of credit score, and different private loans; debit and bank cards; and digital banking providers.
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