Columbia Banking System, Inc. (NASDAQ:COLB) Receives $25.04 Average Target Price from Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $25.04.

COLB has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Columbia Banking System in a research note on Wednesday, June 5th. Stephens raised their price target on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Barclays boosted their price objective on Columbia Banking System from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Wedbush raised their target price on Columbia Banking System from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, StockNews.com cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Friday, August 30th.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $24.24 on Monday. The business’s fifty day moving average price is $23.17 and its two-hundred day moving average price is $20.37. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 10.40 and a beta of 0.65.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Research analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 23rd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is 61.80%.

Hedge Funds Weigh In On Columbia Banking System

Hedge funds and other institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management acquired a new position in shares of Columbia Banking System in the 2nd quarter valued at $33,000. Fifth Third Bancorp lifted its stake in Columbia Banking System by 113.4% in the first quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,047 shares during the period. Abich Financial Wealth Management LLC lifted its stake in Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,020 shares during the period. GAMMA Investing LLC boosted its holdings in Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,387 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,380 shares during the period. 92.53% of the stock is owned by institutional investors.

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.