Columbia Banking System Inc (NASDAQ:COLB) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.73 and last traded at $38.10, with a volume of 10721 shares trading hands. The stock had previously closed at $38.13.

Several brokerages recently issued reports on COLB. BidaskClub raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine lowered Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Columbia Banking System currently has a consensus rating of “Hold” and an average target price of $48.20.

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.55 and a beta of 1.09.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $140.37 million during the quarter, compared to analyst estimates of $143.03 million. Columbia Banking System had a net margin of 25.30% and a return on equity of 9.13%. During the same period in the prior year, the company posted $0.47 earnings per share. Research analysts anticipate that Columbia Banking System Inc will post 2.5 EPS for the current fiscal year.

In other news, EVP David C. Lawson sold 1,813 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the transaction, the executive vice president now directly owns 15,460 shares of the company’s stock, valued at $647,464.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Columbia Banking System by 1.4% in the second quarter. Northern Trust Corp now owns 1,449,181 shares of the financial services provider’s stock worth $59,271,000 after buying an additional 20,630 shares during the last quarter. Moody Aldrich Partners LLC boosted its position in Columbia Banking System by 74.8% during the second quarter. Moody Aldrich Partners LLC now owns 124,941 shares of the financial services provider’s stock worth $5,110,000 after purchasing an additional 53,460 shares in the last quarter. Sterling Capital Management LLC boosted its position in Columbia Banking System by 18.9% during the second quarter. Sterling Capital Management LLC now owns 50,678 shares of the financial services provider’s stock worth $2,073,000 after purchasing an additional 8,041 shares in the last quarter. Bank of America Corp DE boosted its position in Columbia Banking System by 3.4% during the second quarter. Bank of America Corp DE now owns 299,004 shares of the financial services provider’s stock worth $12,230,000 after purchasing an additional 9,911 shares in the last quarter. Finally, Raymond James & Associates boosted its position in Columbia Banking System by 44.1% during the second quarter. Raymond James & Associates now owns 88,819 shares of the financial services provider’s stock worth $3,633,000 after purchasing an additional 27,191 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Columbia Banking System Company Profile (NASDAQ:COLB)

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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