Columbia Banking System (NASDAQ:COLB) received a $38.00 price target from Royal Bank of Canada in a note issued to investors on Friday, TipRanks reports. The firm presently has a “hold” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 2.18% from the stock’s current price.

A number of other analysts have also commented on the company. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. BidaskClub lowered Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, Zacks Investment Research lowered Eisai from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Columbia Banking System currently has an average rating of “Hold” and an average price target of $41.71.

COLB stock traded down $0.15 on Friday, reaching $37.19. The company’s stock had a trading volume of 978 shares, compared to its average volume of 183,924. The company has a fifty day moving average price of $35.70. Columbia Banking System has a 12-month low of $30.65 and a 12-month high of $43.60. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.09 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. The company had revenue of $150.76 million during the quarter, compared to analyst estimates of $147.22 million. During the same quarter last year, the firm posted $0.57 earnings per share. On average, equities analysts expect that Columbia Banking System will post 2.55 EPS for the current year.

In other Columbia Banking System news, EVP Andy Mcdonald sold 3,481 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total transaction of $122,043.86. Following the completion of the transaction, the executive vice president now owns 36,264 shares of the company’s stock, valued at $1,271,415.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Columbia Banking System by 5.6% in the 1st quarter. BlackRock Inc. now owns 10,764,048 shares of the financial services provider’s stock worth $351,877,000 after purchasing an additional 574,267 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Columbia Banking System by 7.7% in the 1st quarter. Neuberger Berman Group LLC now owns 3,280,960 shares of the financial services provider’s stock worth $107,255,000 after purchasing an additional 234,635 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Columbia Banking System by 43.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 964,556 shares of the financial services provider’s stock worth $31,531,000 after purchasing an additional 294,156 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Columbia Banking System by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 835,332 shares of the financial services provider’s stock worth $30,314,000 after purchasing an additional 58,640 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Columbia Banking System in the 4th quarter worth about $22,754,000. 89.88% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Company Profile

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.

Further Reading: Price to Earnings Ratio (PE)

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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