Analysts Set Columbia Banking System, Inc. (NASDAQ:COLB) PT at $25.42

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received a consensus rating of “Hold” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $25.88.

A number of brokerages have commented on COLB. Wedbush upgraded Columbia Banking System from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $31.00 in a research report on Tuesday, September 24th. Royal Bank of Canada upped their price target on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Stephens increased their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Columbia Banking System Trading Up 0.0 %

Shares of NASDAQ COLB opened at $25.34 on Friday. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $28.11. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 10.85 and a beta of 0.64. The firm has a 50 day moving average of $24.62 and a 200 day moving average of $21.27.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Columbia Banking System will post 2.55 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s payout ratio is presently 61.80%.

Institutional Investors Weigh In On Columbia Banking System

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management bought a new stake in shares of Columbia Banking System during the second quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its position in Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Columbia Banking System by 144.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after buying an additional 4,115 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.