Columbia Banking System (NASDAQ:COLB) Lowered to "Sell" at StockNews.com

Columbia Banking System (NASDAQ:COLB - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Friday.

Several other research analysts have also recently issued reports on COLB. Piper Sandler reissued an "overweight" rating and set a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Barclays boosted their price objective on Columbia Banking System from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Friday, July 26th. Stephens raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the company a "market perform" rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $25.04.

Columbia Banking System Trading Up 0.7 %

Shares of NASDAQ:COLB traded up $0.18 on Friday, hitting $25.18. 1,468,106 shares of the company were exchanged, compared to its average volume of 2,425,552. The firm has a market capitalization of $5.27 billion, a P/E ratio of 10.81 and a beta of 0.65. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $28.11. The stock's 50 day moving average price is $22.82 and its 200 day moving average price is $20.23.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analysts' expectations of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm's revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, equities analysts predict that Columbia Banking System will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently added to or reduced their stakes in COLB. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC acquired a new position in Columbia Banking System during the fourth quarter worth $48,000. Fifth Third Bancorp grew its holdings in Columbia Banking System by 113.4% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider's stock valued at $38,000 after buying an additional 1,047 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock worth $43,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock worth $52,000 after acquiring an additional 1,380 shares during the period. Institutional investors and hedge funds own 92.53% of the company's stock.

About Columbia Banking System

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.