Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $30.00 at Barclays

Columbia Banking System (NASDAQ:COLB) had its price target lowered by research analysts at Barclays from $31.00 to $30.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential downside of 4.06% from the stock’s previous close.

A number of other analysts have also weighed in on COLB. Royal Bank Of Canada increased their target price on Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Stephens upped their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods boosted their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.19.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $31.27 on Monday. The company’s 50-day moving average is $31.16 and its 200 day moving average is $29.78. The stock has a market capitalization of $9.05 billion, a P/E ratio of 12.46, a P/E/G ratio of 3.11 and a beta of 0.62. Columbia Banking System has a 1 year low of $22.77 and a 1 year high of $33.67.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $687.40 million. During the same period last year, the firm earned $0.76 EPS. Research analysts anticipate that Columbia Banking System will post 3.02 earnings per share for the current year.

Insider Activity

In related news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the sale, the chief marketing officer owned 18,636 shares in the company, valued at $554,793.72. This represents a 17.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in shares of Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares during the last quarter. Horizon Investments LLC boosted its position in Columbia Banking System by 168.8% during the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 773 shares during the period. Rossby Financial LCC bought a new position in Columbia Banking System in the 4th quarter worth $36,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Columbia Banking System during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.