Columbia Banking System Inc (NASDAQ:COLB) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $47.40.

Several research analysts have weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a research note on Tuesday, January 9th. BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, January 8th.

Shares of Columbia Banking System (NASDAQ COLB) traded up $0.54 during mid-day trading on Tuesday, hitting $45.63. The company’s stock had a trading volume of 199,263 shares, compared to its average volume of 279,755. Columbia Banking System has a one year low of $35.67 and a one year high of $48.06. The stock has a market cap of $2,660.00, a P/E ratio of 20.84, a P/E/G ratio of 1.82 and a beta of 1.25.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. Columbia Banking System had a return on equity of 12.28% and a net margin of 32.36%. The company had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. During the same period last year, the business posted $0.47 EPS. The company’s revenue was up 16.9% on a year-over-year basis. research analysts expect that Columbia Banking System will post 2.24 earnings per share for the current fiscal year.

In related news, CAO Barry Ray sold 750 shares of Columbia Banking System stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, the chief accounting officer now directly owns 11,250 shares in the company, valued at $527,287.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.23% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. BlueCrest Capital Management Ltd purchased a new stake in Columbia Banking System during the second quarter worth $2,841,000. Vanguard Group Inc. boosted its position in Columbia Banking System by 1.6% during the second quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock worth $217,272,000 after purchasing an additional 88,252 shares in the last quarter. AMG National Trust Bank boosted its position in Columbia Banking System by 26.5% during the third quarter. AMG National Trust Bank now owns 26,267 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 5,498 shares in the last quarter. Scotia Capital Inc. boosted its position in Columbia Banking System by 16.1% during the second quarter. Scotia Capital Inc. now owns 29,035 shares of the financial services provider’s stock worth $1,157,000 after purchasing an additional 4,017 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in Columbia Banking System during the second quarter worth $342,000. Hedge funds and other institutional investors own 76.62% of the company’s stock.

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About Columbia Banking System

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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