Columbia Banking System, Inc. (NASDAQ:COLB) Receives $31.25 Average PT from Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given an average rating of “Hold” by the twelve research firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.25.

A number of analysts have issued reports on COLB shares. Stephens decreased their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Citigroup decreased their price objective on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Barclays upped their price objective on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Friday, January 24th.

Columbia Banking System Stock Down 0.4 %

Shares of Columbia Banking System stock opened at $25.57 on Friday. The company has a 50-day simple moving average of $26.74 and a two-hundred day simple moving average of $27.49. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $32.85. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 10.07 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, sell-side analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.36 per share. The ex-dividend date was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 5.63%. Columbia Banking System’s payout ratio is presently 56.69%.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the sale, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional Trading of Columbia Banking System

A number of hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Columbia Banking System by 0.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider’s stock valued at $341,024,000 after purchasing an additional 33,477 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Columbia Banking System by 0.8% during the fourth quarter. American Century Companies Inc. now owns 7,602,571 shares of the financial services provider’s stock valued at $205,345,000 after buying an additional 61,242 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Columbia Banking System by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,315,896 shares of the financial services provider’s stock worth $197,602,000 after purchasing an additional 206,643 shares during the period. Wellington Management Group LLP raised its holdings in Columbia Banking System by 31.9% during the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock valued at $173,873,000 after buying an additional 1,611,563 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Columbia Banking System by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider’s stock valued at $148,956,000 after acquiring an additional 512,542 shares during the period. Institutional investors own 92.53% of the company’s stock.

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.