Columbia Banking System (COLB) Getting Somewhat Favorable News Coverage, Study Finds
News headlines about Columbia Banking System (NASDAQ:COLB) have trended somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Columbia Banking System earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 45.4590473061009 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the media headlines that may have effected Accern’s scoring:
- Stocks Showing Improved Relative Strength: Columbia Banking System (finance.yahoo.com)
- Columbia Banking System (COLB) Downgraded to “Hold” at BidaskClub (americanbankingnews.com)
- Columbia Banking System, Inc. breached its 50 day moving average in a Bearish Manner : COLB-US : December 15, 2017 (finance.yahoo.com)
- Columbia Banking System, Inc. (COLB) Sees Large Growth in Short Interest (americanbankingnews.com)
A number of equities research analysts have recently weighed in on COLB shares. Zacks Investment Research raised Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, October 31st. Royal Bank of Canada reissued a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a report on Friday, September 8th. DA Davidson reissued a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. Finally, BidaskClub downgraded Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $45.60.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. Columbia Banking System had a return on equity of 9.93% and a net margin of 27.72%. The company had revenue of $126.00 million for the quarter, compared to analysts’ expectations of $119.16 million. During the same quarter last year, the business earned $0.47 earnings per share. Columbia Banking System’s revenue was up 16.9% on a year-over-year basis. equities analysts forecast that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.
In related news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the transaction, the chief accounting officer now owns 11,250 shares in the company, valued at $527,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is currently owned by company insiders.
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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