Analysts Set Columbia Banking System, Inc. (NASDAQ:COLB) Target Price at $28.19

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat reports. Ten research 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 covered the stock in the last year is $28.19.

A number of brokerages recently issued reports on COLB. Wedbush raised their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Barclays raised their price objective on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Truist Financial raised their price target on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company upped their price objective on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $29.37 on Wednesday. The business has a 50 day moving average price of $29.27 and a 200 day moving average price of $24.90. The company has a market capitalization of $6.15 billion, a P/E ratio of 12.71 and a beta of 0.64. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter last year, the business posted $0.79 EPS. As a group, research analysts expect that Columbia Banking System will post 2.63 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

Hedge Funds Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 464 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Columbia Banking System during the 3rd quarter valued at approximately $288,000. M&T Bank Corp lifted its stake in Columbia Banking System by 17.0% during the third quarter. M&T Bank Corp now owns 11,859 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 1,727 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Columbia Banking System by 8.1% in the third quarter. Orion Portfolio Solutions LLC now owns 27,607 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 2,072 shares during the period. Finally, XTX Topco Ltd bought a new stake in Columbia Banking System during the third quarter valued at $1,365,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

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.