According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly owned subsidiary, Columbia State Bank,conducts a full-service commercial banking business. Headquartered in Tacoma, Washington, the Company provides a full range of banking services to small and medium-sized businesses, professionals and other individuals through banking offices located in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington. “
A number of other equities analysts also recently commented on COLB. BidaskClub downgraded Zebra Technologies from a hold rating to a sell rating in a report on Friday, May 24th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, DA Davidson assumed coverage on Casa Systems in a report on Monday, March 18th. They issued a buy rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Columbia Banking System has an average rating of Hold and an average target price of $42.33.
Columbia Banking System stock opened at $36.38 on Wednesday. The stock has a 50-day moving average price of $35.28. The stock has a market cap of $2.68 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. Columbia Banking System has a 12 month low of $30.65 and a 12 month high of $43.60.
Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $142.72 million for the quarter, compared to the consensus estimate of $147.05 million. Columbia Banking System had a return on equity of 9.01% and a net margin of 30.12%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. Analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.
In related news, EVP Andy Mcdonald sold 3,481 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total transaction of $122,043.86. Following the sale, the executive vice president now directly owns 36,264 shares in the company, valued at approximately $1,271,415.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.92% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Columbia Banking System by 5.6% during the 1st quarter. BlackRock Inc. now owns 10,764,048 shares of the financial services provider’s stock valued at $351,877,000 after buying an additional 574,267 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Columbia Banking System by 7.7% during the 1st quarter. Neuberger Berman Group LLC now owns 3,280,960 shares of the financial services provider’s stock valued at $107,255,000 after buying an additional 234,635 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Columbia Banking System by 40.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,452,449 shares of the financial services provider’s stock valued at $52,709,000 after buying an additional 416,601 shares during the period. Northern Trust Corp raised its holdings in shares of Columbia Banking System by 1.0% during the 4th quarter. Northern Trust Corp now owns 1,410,597 shares of the financial services provider’s stock valued at $51,191,000 after buying an additional 13,879 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Columbia Banking System by 43.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 964,556 shares of the financial services provider’s stock valued at $31,531,000 after buying an additional 294,156 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.
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.
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