Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Recommendation of “Hold” by Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given a consensus rating of “Hold” by the thirteen analysts that are covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $25.81.

A number of brokerages have weighed in on COLB. Truist Financial reduced their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a report on Friday, September 20th. Stephens increased their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on 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. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Barclays lifted their price objective on Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th.

Columbia Banking System Stock Down 3.1 %

Shares of NASDAQ:COLB opened at $26.63 on Tuesday. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 11.43 and a beta of 0.64. The business has a 50 day moving average price of $25.10 and a 200 day moving average price of $21.95. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $28.15.

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

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is currently 61.80%.

Hedge Funds Weigh In On Columbia Banking System

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its holdings in shares of Columbia Banking System by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock worth $5,068,000 after acquiring an additional 700 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Columbia Banking System by 2.9% in the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock valued at $656,000 after buying an additional 718 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,020 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Columbia Banking System by 1.9% in the second quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider’s stock valued at $1,162,000 after buying an additional 1,085 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Banking System

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.