Columbia Banking System (COLB) Receives Daily Coverage Optimism Rating of 0.19

Media stories about Columbia Banking System (NASDAQ:COLB) have trended somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Columbia Banking System earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 45.9779116577112 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

These are some of the news headlines that may have impacted Accern Sentiment’s scoring:

Columbia Banking System (NASDAQ COLB) traded down $0.44 during trading hours on Tuesday, hitting $45.58. 187,235 shares of the company were exchanged, compared to its average volume of 309,588. The stock has a market cap of $2,660.00, a PE ratio of 20.81, a P/E/G ratio of 1.83 and a beta of 1.25. Columbia Banking System has a 1 year low of $35.67 and a 1 year high of $48.06.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million during the quarter, compared to analysts’ expectations of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. analysts forecast that Columbia Banking System will post 2.2 EPS for the current year.

Several analysts have recently weighed in on COLB shares. Zacks Investment Research raised shares of Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, October 31st. BidaskClub cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. DA Davidson reissued a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of Columbia Banking System in a research note on Tuesday, October 17th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.40.

In related news, CAO Barry Ray sold 750 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $46.87, for a total transaction of $35,152.50. Following the completion of the transaction, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at approximately $527,287.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.23% of the company’s stock.

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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 Management.

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