Somewhat Favorable News Coverage Extremely Likely to Impact Columbia Banking System (COLB) Share Price

News coverage about Columbia Banking System (NASDAQ:COLB) has trended somewhat positive recently, according to AlphaOne. The research firm, a unit of Accern, identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Columbia Banking System earned a news sentiment score of 0.04 on AlphaOne’s scale. AlphaOne also assigned news stories about the financial services provider an impact score of 97 out of 100, indicating that recent news coverage is extremely likely to have an impact on the company’s share price in the next few days.

Shares of Columbia Banking System (COLB) traded up 1.60% on Wednesday, reaching $38.19. The company had a trading volume of 113,447 shares. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 19.69 and a beta of 1.32. Columbia Banking System has a 1-year low of $26.17 and a 1-year high of $45.68. The firm has a 50-day moving average price of $38.89 and a 200 day moving average price of $40.25.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $111.53 million during the quarter, compared to the consensus estimate of $110.72 million. Columbia Banking System had a return on equity of 8.44% and a net margin of 24.61%. During the same period in the previous year, the firm posted $0.40 EPS. Equities research analysts predict that Columbia Banking System will post $2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were issued a $0.22 dividend. The ex-dividend date was Monday, May 8th. This represents a $0.88 annualized dividend and a yield of 2.34%. Columbia Banking System’s dividend payout ratio (DPR) is presently 48.62%.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a report on Tuesday, May 9th. Piper Jaffray Companies cut their price target on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Finally, DA Davidson raised Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, March 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.20.

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In other Columbia Banking System news, CAO Barry Ray sold 981 shares of the business’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $39.42, for a total value of $38,671.02. Following the completion of the transaction, the chief accounting officer now directly owns 12,000 shares in the company, valued at approximately $473,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.07% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:COLB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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