Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $30.00 at Citigroup

Columbia Banking System (NASDAQ:COLBGet Free Report) had its price target lowered by equities researchers at Citigroup from $31.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 7.33% from the company’s current price.

Several other research analysts also recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, January 24th. Barclays lifted their price objective on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Raymond James raised their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on 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, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average target price of $30.38.

Read Our Latest Stock Analysis on Columbia Banking System

Columbia Banking System Stock Performance

Shares of COLB opened at $27.95 on Monday. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $32.85. The stock’s 50-day simple moving average is $28.69 and its 200 day simple moving average is $26.88. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 12.10 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLBGet Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. On average, research analysts forecast that Columbia Banking System will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Columbia Banking System by 54.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 1,290 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after buying an additional 4,553 shares during the period. Hexagon Capital Partners LLC raised its holdings in Columbia Banking System by 26.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,091 shares during the last quarter. Signaturefd LLC boosted its position in Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after buying an additional 709 shares during the period. Finally, Blue Trust Inc. grew its holdings in Columbia Banking System by 14.9% in the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 875 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Company Profile

(Get Free Report)

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.

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