Columbia Banking System, Inc. (COLB)’s Double Bottom Pattern Points to Higher Stock Risks

July 27, 2018 - By Kristin Houston

Columbia Banking System, Inc. (NASDAQ:COLB) Logo

Investors sentiment decreased to 0.98 in 2018 Q1. Its down 1.62, from 2.6 in 2017Q4. It dropped, as 13 investors sold Columbia Banking System, Inc. shares while 75 reduced holdings. 25 funds opened positions while 61 raised stakes. 62.75 million shares or 1.88% more from 61.59 million shares in 2017Q4 were reported.
Virginia Retirement Et Al has invested 0.03% in Columbia Banking System, Inc. (NASDAQ:COLB). Profund Advisors Ltd Co invested 0.02% in Columbia Banking System, Inc. (NASDAQ:COLB). Sg Americas Lc invested in 4,746 shares. Moreover, Guggenheim Ltd Liability has 0% invested in Columbia Banking System, Inc. (NASDAQ:COLB) for 10,099 shares. State Street holds 3.01 million shares. 302,484 are held by Eaton Vance Management. Shelton Capital reported 0.02% stake. Ubs Asset Management Americas reported 337,802 shares stake. California-based Wells Fargo And Com Mn has invested 0% in Columbia Banking System, Inc. (NASDAQ:COLB). Strs Ohio reported 6,500 shares. Dubuque Bank & Trust And Tru holds 5,119 shares. Klingenstein Fields & Ltd Liability Corporation stated it has 4,832 shares or 0.01% of all its holdings. Vantage Invest Advsr Limited Liability owns 321 shares. Freestone Limited Liability Co has invested 0.03% in Columbia Banking System, Inc. (NASDAQ:COLB). Stifel Fincl holds 166,972 shares.

Since March 9, 2018, it had 4 insider purchases, and 1 sale for $67,555 activity. $5,779 worth of stock was bought by Lawson David C on Thursday, July 5. Stein Clint sold 2,300 shares worth $101,568. BARUFFI KUMI YAMAMOTO also bought $13,767 worth of Columbia Banking System, Inc. (NASDAQ:COLB) on Thursday, July 5.

The chart of Columbia Banking System, Inc. (COLB) shows a double bottom with $40.35 target or 4.00 % below today’s $42.03 share price. The 8 months chart pattern indicates high risk for the $3.08B company. It was reported on Jul, 27 by If the $40.35 price target is reached, the company will be worth $123.12M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.16% or $0.48 during the last trading session, reaching $42.03. About 391,026 shares traded or 33.45% up from the average. Columbia Banking System, Inc. (NASDAQ:COLB) has risen 11.95% since July 27, 2017 and is uptrending. It has underperformed by 0.62% the S&P500.

Columbia Banking System, Inc. (NASDAQ:COLB) Ratings Coverage

Among 3 analysts covering Columbia Banking System (NASDAQ:COLB), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Columbia Banking System had 3 analyst reports since January 30, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Friday, April 27 by DA Davidson. The stock has “Buy” rating by Piper Jaffray on Tuesday, January 30. The stock of Columbia Banking System, Inc. (NASDAQ:COLB) has “Hold” rating given on Thursday, March 29 by Sandler O’Neill.

Another recent and important Columbia Banking System, Inc. (NASDAQ:COLB) news was published by which published an article titled: “Columbia Banking System Announces Second Quarter 2018 Earnings Release and Conference Call Date” on July 16, 2018.

Columbia Banking System, Inc. operates as the bank holding firm for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. The company has market cap of $3.08 billion. It offers personal banking services and products, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services. It has a 21.9 P/E ratio. The firm also provides business banking services and products, such as checking, savings, interest-bearing money market, and certificate of deposit accounts; agricultural loans, asset loans, builder and other commercial real estate loans, and loans guaranteed by the small business administration; debit and credit cards; and professional banking, treasury management, merchant card, and international banking services.

Columbia Banking System, Inc. (NASDAQ:COLB) Institutional Positions Chart

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