The stock of Columbia Banking System Inc (NASDAQ:COLB) reached all time high today, Nov, 14 and still has $62.98 target or 66.00% above today’s $37.94 share price. This indicates more upside for the $2.26 billion company. This technical setup was reported by Barchart.com. If the $62.98 PT is reached, the company will be worth $1.49 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 298,093 shares traded hands or 24.51% up from the average. Columbia Banking System Inc (NASDAQ:COLB) has risen 27.73% since April 12, 2016 and is uptrending. It has outperformed by 22.75% 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. Keefe Bruyette & Woods downgraded the shares of COLB in a report on Friday, July 29 to “Market Perform” rating. 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.
The Virginia-based Thompson Siegel And Walmsley Ltd Llc has invested 0.24% in Columbia Banking System Inc (NASDAQ:COLB). Sit Investment Assocs has 3,250 shares for 0% of their US portfolio. Moreover, Alps Advsr has 0% invested in Columbia Banking System Inc (NASDAQ:COLB) for 13,316 shares. Moreover, State Of Alaska Department Of Revenue has 0.01% invested in Columbia Banking System Inc (NASDAQ:COLB) for 4,520 shares. Capstone Asset Mngmt Comm accumulated 15,740 shares or 0.01% of the stock. Quantbot L P reported 7,875 shares or 0.02% of all its holdings. Proshare Advsr Ltd Com owns 8,975 shares or 0% of their US portfolio. Blackrock Institutional Na holds 1.52 million shares or 0.01% of its portfolio. Westport Asset Mgmt, a Connecticut-based fund reported 54,272 shares. Boston holds 0.02% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 480,626 shares. Cardinal Management Ltd Ct has 2.16% invested in the company for 1.55 million shares. Ubs Asset Mgmt Americas has 444,897 shares for 0.01% of their US portfolio. The Pennsylvania-based Cim Investment Mangement Inc has invested 0.18% in Columbia Banking System Inc (NASDAQ:COLB). Cwm Ltd Limited Liability Company accumulated 0.01% or 3,448 shares. Washington Bancshares accumulated 0.04% or 6,084 shares.
Insider Transactions: Since August 18, 2016, the stock had 0 insider purchases, and 1 insider sale for $13,558 net activity. The insider Ray Barry sold $13,558.
More news for Columbia Banking System Inc (NASDAQ:COLB) were recently published by: Prnewswire.com, which released: “Columbia Banking System Announces Third Quarter 2016 Earnings Release and …” on October 05, 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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