Stephens Cuts Columbia Banking System (NASDAQ:COLB) Price Target to $31.00

Columbia Banking System (NASDAQ:COLBFree Report) had its price objective lowered by Stephens from $33.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

COLB has been the subject of several other reports. Keefe, Bruyette & Woods lowered their target price on 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. Wedbush upped 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. Raymond James raised their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group assumed coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.38.

Get Our Latest Report on Columbia Banking System

Columbia Banking System Trading Up 1.4 %

NASDAQ COLB opened at $28.03 on Tuesday. The stock has a market cap of $5.87 billion, a PE ratio of 12.13 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. The company’s 50-day moving average price is $28.59 and its 200-day moving average price is $26.89.

Columbia Banking System (NASDAQ:COLBGet Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 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%. As a group, sell-side analysts forecast that Columbia Banking System will post 2.66 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Institutional Investors Weigh In On Columbia Banking System

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Columbia Banking System by 31.9% in the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after purchasing an additional 1,611,563 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new stake in shares of Columbia Banking System during the third quarter worth $26,593,000. Holocene Advisors LP grew its holdings in shares of 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 valued at $25,126,000 after buying an additional 874,986 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Columbia Banking System by 33.1% during the third 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 during the last quarter. Finally, Stieven Capital Advisors L.P. increased its position in shares of Columbia Banking System by 98.6% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 944,332 shares of the financial services provider’s stock valued at $24,657,000 after acquiring an additional 468,832 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

About Columbia Banking System

(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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