Columbia Banking System, Inc. (NASDAQ:COLB).
On July 29 the company was downgraded to “Market Perform” from “Outperform” by Keefe Bruyette & Woods. On April 29 the stock rating was downgraded from “Overweight” to “Neutral” in a report issued by Piper Jaffray.
On July 2, 2015 the stock rating was rated “Market Perform” by Raymond James a cut from the previous “Outperform” rating. Equity analyst Piper Jaffray added COLB to its research portfolio with a rating of “Overweight” and setting a price target of $35.00.
April 27 investment analysts at RBC Capital kept the stock rating at “Sector Perform” and moved up the price target to $32.00 from $29.00.
The company is unchanged by 0.00% since yesterday’s close of $38.4. Additionally the company recently announced a dividend for shareholders that will be paid on Wednesday the 23rd of August 2017. The dividend payment will be $0.220 per share for the quarter or $0.88 on an annualized basis. The dividend yield will be $2.29. The ex-dividend date will be on Monday May 8th, 2017.
Shares of the company are trading at $38.40 which is just a bit below the 50 day moving average which is $39.72 and which is a tad under the 200 day moving average of $39.45. The 50 day moving average went down by -3.33% whereas the 200 day average was down by -2.65%.
Columbia Banking System, Inc. (Columbia), launched on May 27, 1988, 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 throughout Washington, Oregon and Idaho. Columbia Trust provides fiduciary, agency, trust and related services, and life insurance products. The Company offers products and services, which include Personal Banking, Business Banking and Wealth Management. Its Personal Banking products and services include Checking and Saving Accounts; Consumer Lending; Digital Banking; Residential Lending, and VISA Card Services. Its Business Banking products and services include Agricultural Lending; Commercial and Industrial Lending; International Banking; Merchant Card Services; Municipal Lending; Real Estate and Real Estate Construction Lending; Remote Deposit Capture; Small Business Administration (SBA) Lending; Small Business Services, and Treasury Management. Its Wealth Management products and services include Investment Services, Private Banking and Professional Banking. As of December 31, 2016, the Bank provided a range of financial services through 143 branch locations, including 73 in the State of Washington, 56 in Oregon and 14 in Idaho..
Columbia Banking System, Inc.’s P/E ratio is 19.79 and the market cap is 2.24B. In the latest earnings report the EPS was $1.94 and is expected to be $2.04 for the current year with 58,343,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.53 and the next full year EPS is anticipated to be $2.30.
Investors are more bullish on shares of Columbia Banking System, Inc. recently if you consider the motion in short interest. The firm experienced a fall in short interest of -4.64% as of May 31, 2017 from the last reporting period. Short shares fell 199,697 over that period. With short interest at 4,101,263 and short average daily volume at 326,798, days to cover is 12.5 and the percentage of shorted shares is 0.07% as of May 31.