Columbia Banking System, Inc. (NASDAQ:COLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Columbia Banking System, Inc. is a registered bank holding company whose wholly owned subsidiary, Columbia State Bank,conducts a full-service commercial banking business. Headquartered in Tacoma, Washington, the Company provides a full range of banking services to small and medium-sized businesses, professionals and other individuals through banking offices located in the Tacoma metropolitan area and contiguous parts of the Puget Sound region of Washington, as well as the Longview and Woodland communities in southwestern Washington. “

Several other equities analysts have also recently commented on COLB. Royal Bank Of Canada restated a “hold” rating and set a $42.00 price target on shares of Columbia Banking System in a report on Friday, September 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 price objective on shares of Columbia Banking System in a report on Friday, June 16th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $43.00 to $46.00 in a report on Monday, July 31st. Finally, BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $44.40.

Shares of Columbia Banking System (NASDAQ:COLB) traded down 0.89% during midday trading on Tuesday, hitting $42.19. 229,319 shares of the stock were exchanged. The stock’s 50-day moving average price is $38.35 and its 200 day moving average price is $38.82. The stock has a market cap of $2.46 billion, a P/E ratio of 21.43 and a beta of 1.26. Columbia Banking System has a one year low of $31.75 and a one year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. The company had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. During the same quarter in the previous year, the company earned $0.44 EPS. On average, analysts anticipate that Columbia Banking System will post $2.03 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of COLB. Raymond James Financial Services Advisors Inc. grew its position in Columbia Banking System by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 46 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Columbia Banking System by 2.1% during the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 73 shares during the last quarter. Amalgamated Bank increased its stake in shares of Columbia Banking System by 1.1% during the 2nd quarter. Amalgamated Bank now owns 7,945 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 84 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Columbia Banking System by 0.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Columbia Banking System by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the financial services provider’s stock worth $948,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 96.24% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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