Columbia Banking System Inc (COLB) is Downgraded by Piper Jaffray to Neutral

Columbia Banking System Inc (COLB) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on Columbia Banking System Inc. Shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 31 from a previous price target of $35 .

On the company’s financial health, Columbia Banking System Inc reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $0.48.Analysts expectations of $ 107.48.

Columbia Banking System Inc closed down -0.04 points or -0.13% at $31.68 with 3,22,809 shares getting traded on Wednesday. Post opening the session at $31.74, the shares hit an intraday low of $31.31 and an intraday high of $31.79 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Columbia Banking System Inc. is a bank holding company of Columbia State Bank (the Bank). The Company provides a range of banking services to small and medium-sized businesses professionals and individuals throughout Washington Oregon and Idaho. As of December 31 2014 Columbia Bank had 154 branch locations in Washington Oregon and Idaho. Columbia Bank is a Washington state-chartered commercial bank the deposits of which are insured in whole or in part by the Federal Deposit Insurance Corporation (FDIC). As of December 31 2014 the Company operates 78 branches in 21 counties in the state of Washington 60 branches in 16 counties in Oregon and 16 branches in 10 counties in Idaho. The Company’s products and services include personal banking business banking and wealth management.

Columbia Banking System Inc

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