Columbia Banking System Inc (COLB) Given Consensus Recommendation of “Buy” by Brokerages
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.
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.
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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