Columbia Banking System (COLB) Receiving Somewhat Favorable News Coverage, Report Shows
News coverage about Columbia Banking System (NASDAQ:COLB) has been trending somewhat positive this week, Accern reports. Accern identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Columbia Banking System earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.1930775797861 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Columbia Banking System (NASDAQ COLB) opened at 37.23 on Wednesday. The stock has a market cap of $2.17 billion, a P/E ratio of 18.91 and a beta of 1.22. The stock has a 50 day moving average price of $38.65 and a 200 day moving average price of $39.05. Columbia Banking System has a 52-week low of $31.60 and a 52-week high of $45.68.
Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.01. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The company had revenue of $110.30 million for the quarter, compared to analyst estimates of $112.27 million. During the same quarter in the prior year, the business earned $0.44 EPS. On average, equities research analysts forecast that Columbia Banking System will post $2.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. Columbia Banking System’s dividend payout ratio is presently 44.67%.
COLB has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research report on Tuesday, May 9th. Zacks Investment Research downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research report on Friday, June 16th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. Finally, BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $44.40.
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In related news, CFO Clint Stein sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $40.09, for a total transaction of $320,720.00. Following the transaction, the chief financial officer now owns 22,877 shares in the company, valued at $917,138.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.23% of the stock is owned by company insiders.
Columbia Banking System Company Profile
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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