Columbia Banking System (NASDAQ:COLB) Price Target Cut to $33.00 by Analysts at Royal Bank of Canada

Columbia Banking System (NASDAQ:COLBGet Rating) had its price target decreased by investment analysts at Royal Bank of Canada from $37.00 to $33.00 in a report issued on Wednesday, The Fly reports. Royal Bank of Canada’s target price points to a potential upside of 12.44% from the company’s previous close.

Separately, StockNews.com assumed coverage on shares of Columbia Banking System in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Columbia Banking System Price Performance

Shares of COLB opened at $29.35 on Wednesday. Columbia Banking System has a fifty-two week low of $26.97 and a fifty-two week high of $37.59. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.23 and a beta of 0.70. The firm has a 50-day simple moving average of $30.78 and a 200-day simple moving average of $30.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.66 and a current ratio of 0.66.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in COLB. Raymond James Financial Services Advisors Inc. purchased a new position in Columbia Banking System during the first quarter worth about $484,000. PNC Financial Services Group Inc. increased its holdings in Columbia Banking System by 26.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock valued at $171,000 after buying an additional 1,120 shares in the last quarter. Bank of Montreal Can increased its holdings in Columbia Banking System by 2.7% in the first quarter. Bank of Montreal Can now owns 23,253 shares of the financial services provider’s stock valued at $790,000 after buying an additional 620 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Columbia Banking System by 56.3% in the first quarter. MetLife Investment Management LLC now owns 42,283 shares of the financial services provider’s stock valued at $1,364,000 after buying an additional 15,237 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Columbia Banking System by 3.4% in the first quarter. Rhumbline Advisers now owns 232,909 shares of the financial services provider’s stock valued at $7,516,000 after buying an additional 7,638 shares in the last quarter.

Columbia Banking System Company Profile

(Get Rating)

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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