Stock Buzzer: Is Columbia Banking System Inc a Buy? The Stock Reaches 52-Week High Today

Stock Buzzer: Is Columbia Banking System Inc a Buy? The Stock Reaches 52 Week High Today

The stock of Columbia Banking System Inc (NASDAQ:COLB) hit a new 52-week high and has $43.10 target or 8.00% above today’s $39.91 share price. The 5 months bullish chart indicates low risk for the $2.36B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $43.10 price target is reached, the company will be worth $188.80M 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 118,891 shares traded hands. Columbia Banking System Inc (NASDAQ:COLB) has risen 26.52% since April 21, 2016 and is uptrending. It has outperformed by 21.19% 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 $28.98 million for 20.36 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. Keefe Bruyette & Woods downgraded Columbia Banking System Inc (NASDAQ:COLB) on Friday, July 29 to “Market Perform” rating.

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 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.
Brandywine Global Invest Limited Liability Corporation has invested 0.03% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB). Strs Ohio has 0% invested in the company for 200 shares. Deprince Race And Zollo Inc accumulated 753,142 shares or 0.43% of the stock. Kennedy Cap Mngmt accumulated 314,037 shares or 0.18% of the stock. Employees Retirement Of Texas holds 53,000 shares or 0.02% of its portfolio. Teachers Retirement System Of The State Of Kentucky has 21,550 shares for 0.01% of their US portfolio. Comerica Bank & Trust holds 114,703 shares or 0.03% of its portfolio. The Washington-based Washington Tru Commercial Bank has invested 0.04% in Columbia Banking System Inc (NASDAQ:COLB). California Public Employees Retirement last reported 106,900 shares in the company. Channing Capital Mgmt Ltd Com reported 1.43M shares or 1.68% of all its holdings. Apg Asset Mngmt Nv holds 173,339 shares or 0.01% of its portfolio. Ironbridge Mgmt Limited Partnership owns 447,144 shares or 0.55% of their US portfolio. Gemmer Asset Management Lc holds 0% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 201 shares. Thompson Siegel & Walmsley Limited Liability holds 0.24% of its portfolio in Columbia Banking System Inc (NASDAQ:COLB) for 548,933 shares. Schwab Charles Inv Management accumulated 268,315 shares or 0.01% of the stock.

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

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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