Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Rating of “Hold” by Analysts

Columbia Banking System, Inc. (NASDAQ:COLB) has earned an average rating of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.8846.

Several analysts have issued reports on the stock. Citigroup raised their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Barclays raised their price target on shares of Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Royal Bank Of Canada raised their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Stephens raised their price target on shares of Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, Director Steven R. Gardner sold 13,725 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Torran B. Nixon sold 2,240 shares of Columbia Banking System stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.85, for a total transaction of $64,624.00. Following the sale, the vice president owned 98,229 shares in the company, valued at approximately $2,833,906.65. This trade represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,354 shares of company stock worth $561,971 over the last 90 days. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Columbia Banking System

Several institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. boosted its position in shares of Columbia Banking System by 6.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 348 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Columbia Banking System by 4.5% during the 3rd quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 423 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Columbia Banking System by 1.2% during the 4th quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock valued at $1,072,000 after acquiring an additional 444 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Columbia Banking System by 0.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider’s stock valued at $3,422,000 after acquiring an additional 456 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. boosted its position in shares of Columbia Banking System by 4.9% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 9,774 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 457 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

NASDAQ COLB opened at $28.04 on Tuesday. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 12.41 and a beta of 0.61. The company’s fifty day moving average is $28.89 and its two-hundred day moving average is $27.90. Columbia Banking System has a 52-week low of $19.61 and a 52-week high of $32.70.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same period last year, the business posted $0.71 EPS. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s dividend payout ratio (DPR) is currently 65.49%.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.