BidaskClub downgraded shares of Columbia Banking System (NASDAQ:COLB) from a hold rating to a sell rating in a report released on Thursday, September 13th.

Separately, Zacks Investment Research upgraded Columbia Banking System from a sell rating to a hold rating in a research note on Wednesday, July 4th. Two research 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. The company currently has an average rating of Hold and a consensus target price of $48.20.

Shares of NASDAQ COLB traded down $0.39 during trading hours on Thursday, hitting $38.63. 187,687 shares of the company’s stock were exchanged, compared to its average volume of 277,548. Columbia Banking System has a 1-year low of $37.79 and a 1-year high of $48.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $2.84 billion, a PE ratio of 17.64, a P/E/G ratio of 1.55 and a beta of 1.09.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). Columbia Banking System had a net margin of 25.30% and a return on equity of 9.13%. The firm had revenue of $140.37 million for the quarter, compared to the consensus estimate of $143.03 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that Columbia Banking System 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 on 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 owns 15,460 shares of the company’s stock, valued at approximately $647,464.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Columbia Banking System by 7.0% in the 2nd quarter. BlackRock Inc. now owns 10,136,738 shares of the financial services provider’s stock valued at $414,593,000 after buying an additional 661,781 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Columbia Banking System by 76.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 936,964 shares of the financial services provider’s stock valued at $39,305,000 after buying an additional 405,659 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Columbia Banking System by 4,223.4% in the 1st quarter. OppenheimerFunds Inc. now owns 364,807 shares of the financial services provider’s stock valued at $15,304,000 after buying an additional 356,369 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Columbia Banking System by 12.8% in the 1st quarter. Franklin Resources Inc. now owns 3,032,722 shares of the financial services provider’s stock valued at $127,223,000 after buying an additional 344,136 shares in the last quarter. Finally, Cardinal Capital Management LLC CT increased its holdings in Columbia Banking System by 7.4% during the 1st quarter. Cardinal Capital Management LLC CT now owns 2,382,756 shares of the financial services provider’s stock worth $99,957,000 after purchasing an additional 164,134 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

About Columbia Banking System

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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