Columbia Banking System, Inc. (NASDAQ:COLB) Receives $25.42 Average Target Price from Analysts

Columbia Banking System, Inc. (NASDAQ:COLB) has received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $25.50.

Several research firms have recently weighed in on COLB. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Royal Bank of Canada increased their target price on Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a 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 company a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Barclays lifted their target price on Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COLB. Ariadne Wealth Management LP acquired a new stake in Columbia Banking System in the 2nd quarter valued at about $252,000. Cetera Investment Advisers lifted its position in shares of Columbia Banking System by 135.8% in the second quarter. Cetera Investment Advisers now owns 111,009 shares of the financial services provider’s stock valued at $2,208,000 after buying an additional 63,932 shares during the last quarter. Creative Planning lifted its position in shares of Columbia Banking System by 39.2% in the second quarter. Creative Planning now owns 42,063 shares of the financial services provider’s stock valued at $837,000 after buying an additional 11,836 shares during the last quarter. Algert Global LLC boosted its stake in shares of Columbia Banking System by 6.2% during the 2nd quarter. Algert Global LLC now owns 321,874 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 18,708 shares during the period. Finally, Scientech Research LLC acquired a new position in shares of Columbia Banking System during the 2nd quarter worth approximately $307,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.0 %

COLB stock opened at $25.96 on Friday. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $28.11. The firm has a market cap of $5.44 billion, a PE ratio of 11.14 and a beta of 0.64. The business’s 50-day moving average price is $24.51 and its two-hundred day moving average price is $21.14.

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. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The business had revenue of $472.15 million for the quarter, compared to analysts’ expectations of $476.01 million. During the same quarter in the previous year, the business posted $0.81 EPS. Columbia Banking System’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts forecast that Columbia Banking System will post 2.55 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is presently 61.80%.

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.