Piper Jaffray Companies reissued their buy rating on shares of Columbia Banking System (NASDAQ:COLB) in a report released on Tuesday morning. They currently have a $53.00 target price on the financial services provider’s stock.

COLB has been the subject of several other research reports. Zacks Investment Research upgraded shares of Columbia Banking System from a sell rating to a buy rating and set a $50.00 price target for the company in a report on Monday. DA Davidson reiterated a buy rating and issued a $48.00 price target (up previously from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. Finally, BidaskClub cut shares of Columbia Banking System from a buy rating to a hold rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $47.40.

Columbia Banking System (NASDAQ:COLB) traded up $0.24 during trading on Tuesday, hitting $44.79. 182,822 shares of the stock traded hands, compared to its average volume of 279,429. The firm has a market capitalization of $2,620.00, a PE ratio of 20.45, a PEG ratio of 1.84 and a beta of 1.25. Columbia Banking System has a 12 month low of $35.67 and a 12 month high of $48.06.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The company had revenue of $126.00 million during the quarter, compared to analysts’ expectations of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. equities research analysts predict that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.

In other news, CAO Barry Ray sold 750 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the transaction, the chief accounting officer now owns 11,250 shares in the company, valued at $527,287.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.23% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Columbia Banking System by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 385,882 shares of the financial services provider’s stock worth $15,378,000 after purchasing an additional 32,278 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Columbia Banking System by 9.1% in the second quarter. Legal & General Group Plc now owns 112,077 shares of the financial services provider’s stock worth $4,467,000 after purchasing an additional 9,386 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Columbia Banking System by 1.7% in the second quarter. Federated Investors Inc. PA now owns 43,099 shares of the financial services provider’s stock worth $1,717,000 after purchasing an additional 739 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Columbia Banking System by 13.6% in the second quarter. Principal Financial Group Inc. now owns 545,824 shares of the financial services provider’s stock worth $21,751,000 after purchasing an additional 65,278 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Columbia Banking System by 2.3% in the second quarter. Swiss National Bank now owns 97,624 shares of the financial services provider’s stock worth $3,890,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors own 76.23% of the company’s stock.

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Columbia Banking System Company Profile

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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