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Columbia Banking System Inc. (COLB) – Don’t Be So Quick to Call it Dead

Columbia Banking System Inc. (NASDAQ: COLB) is -30.04% lower on its value in year-to-date trading and has touched a low of $17.54 and a high of $35.53 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The COLB stock was last observed hovering at around $21.51 in the last trading session, with the day’s loss setting it -0.43% off its average median price target of $28.50 for the next 12 months. It is also 34.13% off the consensus price target high of $32.00 offered by 10 analysts, but current levels are 1.95% higher than the price target low of $21.50 for the same period.

Currently trading at $21.08, the stock is 5.03% and 0.96% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.73 million and changing -2.00% at the moment leaves the stock -25.52% off its SMA200. COLB registered -27.83% loss for a year compared to 6-month loss of -37.82%.

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The stock witnessed a 4.98% gain in the last 1 month and extending the period to 3 months gives it a -30.91%, and is 0.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.37% over the week and 5.48% over the month.

Columbia Banking System Inc. (COLB) has around 2093 employees, a market worth around $4.53B and $646.50M in sales. Current P/E ratio is 6.59 and Fwd P/E is 5.39. Profit margin for the company is 38.70%. Distance from 52-week low is 20.18% and -40.67% from its 52-week high. The company has generated returns on investments over the last 12 months (24.80%).

Columbia Banking System Inc. (COLB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Columbia Banking System Inc. (COLB) is a “Overweight”. 10 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Columbia Banking System Inc. is expected to release its quarterly report on 07/27/2023.The EPS is expected to grow by 15.10% this year

Columbia Banking System Inc. (COLB) Top Institutional Holders

The shares outstanding are 208.46M, and float is at 207.08M with Short Float at 2.71%.

Columbia Banking System Inc. (COLB) Insider Activity

A total of 193 insider transactions have happened at Columbia Banking System Inc. (COLB) in the last six months, with sales accounting for 73 and purchases happening 120 times. The most recent transaction is an insider purchase by EERKES CRAIG D, the company’s Director. SEC filings show that EERKES CRAIG D bought 2,381 shares of the company’s common stock on May 24 at a price of $21.01 per share for a total of $50025.0. Following the purchase, the insider now owns 29022.0 shares.

Columbia Banking System Inc. disclosed in a document filed with the SEC on Dec 30 that Lawson David C (EVP Chief H.R. Officer) bought a total of 264 shares of the company’s common stock. The trade occurred on Dec 30 and was made at $26.84 per share for $7086.0. Following the transaction, the insider now directly holds 21212.0 shares of the COLB stock.

Still, SEC filings show that on Dec 30, BARUFFI KUMI YAMAMOTO (EVP General Counsel) acquired 232 shares at an average price of $26.84 for $6227.0. The insider now directly holds 23,816 shares of Columbia Banking System Inc. (COLB).

Columbia Banking System Inc. (COLB): Who are the competitors?

The company’s main competitors (and peers) include Heritage Financial Corporation (HFWA) that is -33.07% lower over the past 12 months. Bank of Hawaii Corporation (BOH) is -48.46% down on the 1-year trading charts.

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