Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $30.00 at JPMorgan Chase & Co.

Columbia Banking System (NASDAQ:COLB) had its price target decreased by JPMorgan Chase & Co. from $32.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.46% from the stock’s current price.

Several other research firms have also commented on COLB. Keefe, Bruyette & Woods raised their target price on Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Wedbush raised their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group initiated coverage on shares of Columbia Banking System in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price for the company. Royal Bank of Canada increased their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Raymond James lifted their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.31.

Columbia Banking System Trading Down 0.1 %

Shares of NASDAQ COLB opened at $27.16 on Tuesday. The company has a 50 day simple moving average of $29.30 and a two-hundred day simple moving average of $26.03. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 11.76 and a beta of 0.67. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the previous year, the firm posted $0.79 earnings per share. Analysts forecast that Columbia Banking System will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLB. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Banking System by 812.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after buying an additional 2,833,744 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Columbia Banking System by 31.9% in the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after purchasing an additional 1,611,563 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in Columbia Banking System during the third quarter worth approximately $26,593,000. Holocene Advisors LP boosted its stake in Columbia Banking System by 1,001.8% during the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider’s stock worth $25,126,000 after buying an additional 874,986 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Columbia Banking System by 33.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock valued at $59,099,000 after buying an additional 562,467 shares in the last quarter. Hedge funds and other 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.