Price Change to Note: Could Columbia Banking System Inc Go Down After Achieving 52-Week High?

Price Change to Note: Could Columbia Banking System Inc Go Down After Achieving 52 Week High?

The stock of Columbia Banking System Inc (NASDAQ:COLB) hit a new 52-week high and has $55.80 target or 48.00% above today’s $37.70 share price. The 9 months bullish chart indicates low risk for the $2.28 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $55.80 price target is reached, the company will be worth $1.09B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 228,759 shares traded hands. Columbia Banking System Inc (NASDAQ:COLB) has risen 26.86% since April 11, 2016 and is uptrending. It has outperformed by 20.71% the S&P500.

Columbia Banking System Inc (NASDAQ:COLB) Ratings Coverage

Out of 3 analysts covering Columbia Banking System Inc. (NASDAQ:COLB), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Columbia Banking System Inc. has been the topic of 3 analyst reports since January 29, 2016 according to StockzIntelligence Inc. The stock of Columbia Banking System Inc (NASDAQ:COLB) earned “Market Perform” rating by Keefe Bruyette & Woods on Friday, July 29. The company was downgraded on Friday, April 29 by Piper Jaffray.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.29, from 0.98 in 2016Q1. The ratio increased, as 20 funds sold all Columbia Banking System Inc shares owned while 44 reduced positions. 9 funds bought stakes while 72 increased positions. They now own 50.09 million shares or 1.95% less from 51.08 million shares in 2016Q1.
Smith Graham & Invest Advsr Limited Partnership has 0.98% invested in the company for 252,961 shares. Pinebridge Invests L P has invested 0.01% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB). Mufg Americas accumulated 686 shares or 0% of the stock. Washington Tru National Bank accumulated 6,084 shares or 0.04% of the stock. Ironbridge Mngmt L P has invested 0.55% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB). State Of Alaska Department Of Revenue accumulated 4,520 shares or 0.01% of the stock. Panagora Asset Inc has invested 0.04% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB). Parkside State Bank owns 767 shares or 0.01% of their US portfolio. Kennedy Capital Mngmt has 314,037 shares for 0.18% of their US portfolio. The Illinois-based Perkins Investment Mgmt Lc has invested 0.42% in Columbia Banking System Inc (NASDAQ:COLB). Dimensional Fund Advsrs Limited Partnership holds 0.04% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 2.68 million shares. Boston Private Wealth Limited Liability Corp accumulated 0.03% or 23,950 shares. Pacad Invest last reported 300 shares in the company. Bankshares Of Montreal Can reported 5,443 shares or 0% of all its holdings. Prudential last reported 140,226 shares in the company.

Insider Transactions: Since August 18, 2016, the stock had 0 insider purchases, and 1 sale for $13,558 net activity. $13,558 worth of Columbia Banking System Inc (NASDAQ:COLB) was sold by Ray Barry.

More news for Columbia Banking System Inc (NASDAQ:COLB) were recently published by: Equitiesfocus.com, which released: “Columbia Banking System, Inc. (NASDAQ:COLB) 50-day Moving Average At $32.74” on November 11, 2016. Nasdaq.com‘s article titled: “Ex-Dividend Reminder: American Water Works, Capital Bank Financial and …” and published on November 03, 2016 is yet another important article.

COLB Company Profile

Columbia Banking System, Inc., incorporated on May 27, 1988, is a bank holding firm of Columbia State Bank (the Bank) and West Coast Trust Company, Inc. The Firm provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho. The Bank is a Washington state-chartered commercial bank. The Firm operates over 70 branches in approximately 20 counties in the state of Washington, approximately 60 branches in over 10 counties in Oregon and approximately 20 branches in over 10 counties in Idaho. The Company’s services and products include personal banking, business banking and wealth management.

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