Columbia Banking System, Inc. (COLB) Upgraded to Buy at Zacks Investment Research

Remigio Civitarese
Novembre 19, 2017

Westwood Holdings Group Inc bought 104,994 shares in the previous quarter increasing its exposure to Columbia Banking Sys by 20.7%. The research firm ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. They now have $48.00 price objective on the financial services provider's stock. It improved, as 13 investors sold Columbia Banking System Inc shares while 53 reduced holdings. The Firm provides a range of banking services to small and medium-sized businesses, professionals and individuals. DA Davidson restated a buy rating and set a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. Piper Jaffray maintained it with "Hold" rating and $4300 target in Monday, July 10 report. The stock of Columbia Banking System Inc (NASDAQ:COLB) has "Hold" rating given on Tuesday, June 13 by Keefe Bruyette & Woods. (NASDAQ:COLB), 3 have Buy rating, 0 Sell and 3 Hold. The stock has a consensus rating of "Hold" and an average target price of $45.60. The stock had a trading volume of 191,503 shares, compared to its average volume of 362,898. The company now has a P/E ratio of 19.78 and market cap is 2.53B. Piper Jaffray maintained Columbia Banking System Inc (NASDAQ:COLB) rating on Tuesday, September 12.

Columbia Banking System Inc (NASDAQ:colb) announced a quarterly dividend on Thursday, April 27th. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The Independent Portfolio Consultants Inc holds 16,119 shares with $642,000 value, up from 365 last quarter. During the same period in the prior year, the company posted $0.47 earnings per share. equities analysts expect that Columbia Banking System will post 2.2 earnings per share for the current fiscal year. The firm had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. The Pennsylvania-based Millrace Asset Grp Inc has invested 1.74% in Columbia Banking System Inc (NASDAQ:COLB). PiperJaffray upgraded the shares of COLB in report on Monday, July 31 to "Overweight" rating. If you are accessing this news story on another website, it was illegally stolen and republished in violation of USA & worldwide trademark & copyright laws. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/16/columbia-banking-system-inc-colb-upgraded-to-buy-by-zacks-investment-research.html. Days to cover increased from 13.0 to 15.0 and the percentage of shorted shares was 0.06% on October 13. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, October 30th. Columbia Banking System's payout ratio is presently 40.00%.

Several large investors have recently made changes to their positions in the company. Franklin Resources stated it has 0.05% in Columbia Banking System Inc (NASDAQ:COLB). Columbia Bkg Sys Inc now has $2.55 billion valuation. Independent Portfolio Consultants Inc acquired 15,754 shares as Columbia Bkg Sys Inc (COLB)'s stock declined 8.05%. Sterling Capital Management LLC now owns 42,637 shares of the financial services provider's stock worth $1,795,000 after buying an additional 5,811 shares in the last quarter.

The stock of Columbia Banking Systems Incorporated (NASDAQ:COLB) registered an increase of 8.76% in short interest. Insiders own 1.07% of the company's stock. Finally, California Public Employees Retirement System grew its holdings in Columbia Banking System by 9.6% during the 3rd quarter. Its stake was worth $25,757,000 an increase of $5,566,000 as of quarter end. State Of Tennessee Treasury Department reported 0.01% in Columbia Banking System Inc (NASDAQ:COLB). It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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