Columbia Banking System (NASDAQ:COLB) Given New $25.00 Price Target at Barclays

Columbia Banking System (NASDAQ:COLB) had its price target upped by investment analysts at Barclays from $24.00 to $25.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential downside of 4.10% from the stock’s previous close.

A number of other research firms also recently commented on COLB. Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Columbia Banking System from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Truist Financial decreased their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and an average price target of $25.50.

Columbia Banking System Trading Up 0.4 %

Shares of NASDAQ:COLB traded up $0.10 during midday trading on Friday, hitting $26.07. The company had a trading volume of 178,109 shares, compared to its average volume of 2,376,989. The firm has a fifty day simple moving average of $24.45 and a 200 day simple moving average of $21.06. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 11.21 and a beta of 0.64. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $472.15 million for the quarter, compared to analysts’ expectations of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. Columbia Banking System’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. Equities analysts forecast that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently made changes to their positions in COLB. Corient Private Wealth LLC bought a new stake in shares of Columbia Banking System during the fourth quarter worth about $963,000. Orion Portfolio Solutions LLC boosted its position in Columbia Banking System by 10.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 3,211 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Columbia Banking System by 75.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 5,752 shares during the period. TD Asset Management Inc increased its position in shares of Columbia Banking System by 1.6% during the 4th quarter. TD Asset Management Inc now owns 294,675 shares of the financial services provider’s stock valued at $7,862,000 after purchasing an additional 4,661 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Columbia Banking System by 25.2% during the 4th quarter. Stifel Financial Corp now owns 297,675 shares of the financial services provider’s stock worth $7,942,000 after purchasing an additional 59,848 shares during the period. 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.