Worth Watching: Could Columbia Banking System Inc See a Reversal After Breaking Its 52-Week High?

Worth Watching: Could Columbia Banking System Inc See a Reversal After Breaking Its 52 Week High?

The stock of Columbia Banking System Inc (NASDAQ:COLB) hit a new 52-week high and has $43.74 target or 7.00% above today’s $40.88 share price. The 6 months bullish chart indicates low risk for the $2.39 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $43.74 price target is reached, the company will be worth $167.30 million 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 204,762 shares traded hands. Columbia Banking System Inc (NASDAQ:COLB) has risen 32.78% since April 28, 2016 and is uptrending. It has outperformed by 26.85% 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 $28.65M for 20.86 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. The firm earned “Neutral” rating on Friday, April 29 by Piper Jaffray. The stock of Columbia Banking System Inc (NASDAQ:COLB) earned “Market Perform” rating by Keefe Bruyette & Woods on Friday, July 29.

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 Q2 2016. Its down 0.05, from 1.27 in 2016Q1. The ratio worsened, 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.
Tradewinds Mngmt Ltd reported 1,142 shares or 0.02% of all its holdings. Shinko Asset Ltd accumulated 114,927 shares or 0.02% of the stock. Leavell Inv Inc holds 0.03% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 8,000 shares. Boston Prtnrs has invested 0.02% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB). Blackrock Grp Inc Limited last reported 86,258 shares in the company. Teachers Retirement Of The State Of Kentucky reported 21,550 shares or 0.01% of all its holdings. Copper Rock Capital Prtn Ltd Liability Corp holds 2.08% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 978,643 shares. Capstone Asset Management last reported 0.01% of its portfolio in the stock. State Bank Of America Corp De holds 220,318 shares or 0% of its portfolio. Invesco has 0% invested in the company for 300,854 shares. Moreover, Teachers Advsr has 0.01% invested in Columbia Banking System Inc (NASDAQ:COLB) for 305,677 shares. Moreover, Ameriprise Fincl Incorporated has 0.01% invested in Columbia Banking System Inc (NASDAQ:COLB) for 566,985 shares. Dimensional Fund Advisors Ltd Partnership owns 2.68M shares or 0.04% of their US portfolio. Amg National Bancshares last reported 21,758 shares in the company. Raymond James & Associates owns 65,218 shares or 0.01% of their US portfolio.

Insider Transactions: Since August 18, 2016, the stock had 0 buys, and 1 sale for $13,558 net activity. Another trade for 424 shares valued at $13,558 was made by Ray Barry on Thursday, August 18.

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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