Short Interest Don’t Lie: Could Columbia Banking Systems Incorporated (NASDAQ:COLB) Change Direction After Less Shorts?

November 25, 2016 - By Marie Mckinney   ·   0 Comments

Short Interest Don't Lie: Could Columbia Banking Systems Incorporated (NASDAQ:COLB) Change Direction After Less Shorts?

The stock of Columbia Banking Systems Incorporated (NASDAQ:COLB) registered a decrease of 14.02% in short interest. COLB’s total short interest was 1.62 million shares in November as published by FINRA. Its down 14.02% from 1.88M shares, reported previously. With 217,900 shares average volume, it will take short sellers 7 days to cover their COLB’s short positions. The short interest to Columbia Banking Systems Incorporated’s float is 2.83%. About 24,289 shares traded hands. Columbia Banking System Inc (NASDAQ:COLB) has risen 26.27% since April 22, 2016 and is uptrending. It has outperformed by 20.86% the S&P500.

Columbia Banking System, Inc. is a bank holding firm of Columbia State Bank and West Coast Trust Company, Inc. The company has a market cap of $2.33 billion. The Firm provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. It has a 22.87 P/E ratio. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho.

Insitutional Activity: The institutional sentiment decreased to 1.22 in Q2 2016. Its down 0.05, from 1.27 in 2016Q1. The ratio dropped, as 20 funds sold all Columbia Banking System Inc shares owned while 44 reduced positions. 9 funds bought stakes while 72 increased positions. They now own 50.09 million shares or 1.95% less from 51.08 million shares in 2016Q1.
Us Bankshares De accumulated 0% or 28,776 shares. Teton Advsr last reported 8,001 shares in the company. Ny State Common Retirement Fund accumulated 0% or 112,181 shares. Apg Asset Mngmt Nv, a Netherlands-based fund reported 173,339 shares. Rice Hall James Assocs Limited Liability Corporation accumulated 504,908 shares or 0.82% of the stock. Ig Invest Limited accumulated 15,600 shares or 0% of the stock. Fincl Bank Of Ny Mellon Corp holds 2.51M shares or 0.02% of its portfolio. Cortina Asset Mngmt Llc holds 673,772 shares or 0.86% of its portfolio. Vanguard Grp has 0.01% invested in the company for 4.73M shares. Pnc Fincl Group Incorporated holds 0% or 324 shares in its portfolio. The California-based Schwab Charles Management Inc has invested 0.01% in Columbia Banking System Inc (NASDAQ:COLB). Legal & General Group Inc Public reported 13,178 shares or 0% of all its holdings. Deprince Race Zollo has 0.43% invested in the company for 753,142 shares. Moreover, Guggenheim Cap Ltd has 0% invested in Columbia Banking System Inc (NASDAQ:COLB) for 17,906 shares. The Georgia-based Suntrust Banks has invested 0% in Columbia Banking System Inc (NASDAQ:COLB).

Insider Transactions: Since August 18, 2016, the stock had 0 insider buys, and 1 sale for $13,558 net activity. Another trade for 424 shares valued at $13,558 was made by Ray Barry on Thursday, August 18.

Columbia Banking System Inc (NASDAQ:COLB) Ratings Coverage

Out of 3 analysts covering Columbia Banking System Inc. (NASDAQ:COLB), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Columbia Banking System Inc. has been the topic of 3 analyst reports since January 29, 2016 according to StockzIntelligence Inc. The rating was downgraded by Keefe Bruyette & Woods to “Market Perform” on Friday, July 29. Piper Jaffray downgraded the stock to “Neutral” rating in Friday, April 29 report.

COLB Company Profile

Columbia Banking System, Inc., incorporated on May 27, 1988, is a bank holding firm of Columbia State Bank (the Bank) and West Coast Trust Company, Inc. The Firm provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho. The Bank is a Washington state-chartered commercial bank. The Firm operates over 70 branches in approximately 20 counties in the state of Washington, approximately 60 branches in over 10 counties in Oregon and approximately 20 branches in over 10 counties in Idaho. The Company’s services and products include personal banking, business banking and wealth management.

Another recent and important Columbia Banking System Inc (NASDAQ:COLB) news was published by Prnewswire.com which published an article titled: “Columbia Banking System Announces Third Quarter 2016 Earnings Release and …” on October 05, 2016.

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By Marie Mckinney


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