The stock of Columbia Banking System Inc (NASDAQ:COLB) reached all time high today, Nov, 24 and still has $43.59 target or 9.00% above today’s $39.99 share price. This indicates more upside for the $2.39 billion company. This technical setup was reported by Barchart.com. If the $43.59 PT is reached, the company will be worth $215.10M 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. The stock increased 0.88% or $0.35 on November 23, hitting $39.99. About 262,169 shares traded hands. Columbia Banking System Inc (NASDAQ:COLB) has risen 26.27% since April 22, 2016 and is uptrending. It has outperformed by 20.86% the S&P500.
Analysts await Columbia Banking System Inc (NASDAQ:COLB) to report earnings on January, 26. They expect $0.49 earnings per share, 0.00% or $0.00 from last year’s $0.49 per share. COLB’s profit will be $29.28M for 20.40 P/E if the $0.49 EPS becomes a reality. After $0.47 actual earnings per share reported by Columbia Banking System Inc for the previous quarter, Wall Street now forecasts 4.26% EPS growth.
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 firm has “Neutral” rating given 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 decreased to 1.22 in 2016 Q2. Its down 0.05, from 1.27 in 2016Q1. The ratio fall, 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.
Da Davidson & accumulated 5,881 shares or 0% of the stock. Guggenheim Cap Ltd Liability Com accumulated 0% or 17,906 shares. Public Sector Pension Invest Board accumulated 0.01% or 40,698 shares. Plante Moran Finance Advisors Limited reported 85 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 1,390 shares. Moreover, Cornerstone Cap Mgmt Holding Ltd Liability Co has 0% invested in Columbia Banking System Inc (NASDAQ:COLB) for 13,700 shares. Teachers Advsr holds 305,677 shares or 0.01% of its portfolio. Buckhead Cap Mngmt Ltd Co has 16,495 shares for 0.08% of their US portfolio. Kennedy Management Incorporated holds 0.18% or 314,037 shares in its portfolio. Pinebridge Invs Limited Partnership holds 0.01% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 7,356 shares. Ironbridge Mgmt Limited Partnership last reported 0.55% of its portfolio in the stock. Teachers Retirement Of The State Of Kentucky holds 21,550 shares or 0.01% of its portfolio. Voya Inv Mgmt Lc has 0% invested in the company for 28,225 shares. Rice Hall James And Associate Llc, a California-based fund reported 504,908 shares. Creative Planning reported 121 shares or 0% of all its holdings.
Insider Transactions: Since August 18, 2016, the stock had 0 buys, and 1 insider sale for $13,558 net activity. The insider Ray Barry sold $13,558.
Another recent and important Columbia Banking System Inc (NASDAQ:COLB) news was published by Prnewswire.com which published an article titled: “Columbia Banking System Announces Third Quarter 2016 Earnings Release and …” on October 05, 2016.
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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