Columbia Banking System, Inc. (NASDAQ:COLB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the firm, MarketBeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.3333.

COLB has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of Columbia Banking System from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada boosted their target price on shares of Columbia Banking System from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday. Barclays decreased their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Raymond James Financial upgraded shares of Columbia Banking System from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $27.00 to $31.00 in a research note on Monday, September 15th. Finally, Piper Sandler boosted their target price on shares of Columbia Banking System from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd.

Columbia Banking System Trading Up 3.3%

COLB stock opened at $25.71 on Tuesday. The stock has a market capitalization of $5.41 billion, a PE ratio of 10.20 and a beta of 0.60. Columbia Banking System has a 12-month low of $19.61 and a 12-month high of $32.85. The stock’s 50 day simple moving average is $25.97 and its 200 day simple moving average is $24.36.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $348.47 million for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%. On average, research analysts predict that Columbia Banking System will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, August 29th. Columbia Banking System’s dividend payout ratio is 57.14%.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds and other institutional investors have recently modified their holdings of COLB. West Oak Capital LLC purchased a new stake in shares of Columbia Banking System in the 3rd quarter worth $28,000. Geneos Wealth Management Inc. increased its stake in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Columbia Banking System in the 1st quarter worth $37,000. UMB Bank n.a. increased its stake in shares of Columbia Banking System by 141.3% in the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 958 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Columbia Banking System by 53.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 624 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

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.