In a report issued on July 21, Jon Arfstrom from RBC Capital maintained a Hold rating on Columbia Banking System (COLB – Research Report), with a price target of $35.00. The company’s shares closed last Friday at $29.33.
According to TipRanks.com, Arfstrom is a 5-star analyst with an average return of 20.6% and a 56.4% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Old National Bancorp Capital, and Provident Financial Services.
Columbia Banking System has an analyst consensus of Moderate Buy, with a price target consensus of $33.33.
Based on Columbia Banking System’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $170 million and net profit of $57.52 million. In comparison, last year the company earned revenue of $147 million and had a net profit of $51.85 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COLB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Columbia Banking System, Inc. is a bank holding company, which engages in the provision of financial services. It specializes in personal, business, and wealth management. It offers checking and savings accounts; debit and credit cards; digital banking; personal loans; home loans; foreign currency; professional banking; treasury management; merchant card services; international banking; financial services; private banking; and trust and investment services. The company was founded in 1988 and is headquartered in Tacoma, WA.
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