Columbia Banking System (NASDAQ:COLB) Stock Price Expected to Rise, Barclays Analyst Says

Columbia Banking System (NASDAQ:COLB) had its target price lifted by stock analysts at Barclays from $30.00 to $32.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 10.76% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Citigroup lowered their target price on shares of Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, September 22nd. Weiss Ratings lowered shares of Columbia Banking System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.58.

Columbia Banking System Trading Up 0.2%

Columbia Banking System stock opened at $28.89 on Monday. The stock has a 50 day moving average of $30.40 and a two-hundred day moving average of $30.12. Columbia Banking System has a twelve month low of $23.83 and a twelve month high of $33.67. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.86 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 business had revenue of $677.00 million for the quarter, compared to analyst estimates of $687.40 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. Equities analysts predict that Columbia Banking System will post 3.03 earnings per share for the current year.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quad Cities Investment Group LLC increased its position in Columbia Banking System by 0.7% during the 2nd quarter. Quad Cities Investment Group LLC now owns 45,802 shares of the financial services provider’s stock worth $1,468,000 after purchasing an additional 331 shares in the last quarter. Hilton Head Capital Partners LLC raised its position in shares of Columbia Banking System by 25.8% in the first quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock valued at $53,000 after buying an additional 399 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Columbia Banking System by 0.6% during the first quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock valued at $1,949,000 after buying an additional 400 shares during the period. Kera Capital Partners Inc. lifted its stake in shares of Columbia Banking System by 5.7% during the first quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock valued at $217,000 after buying an additional 425 shares during the period. Finally, Henshaw Capital LLC boosted its position in Columbia Banking System by 1.4% during the first quarter. Henshaw Capital LLC now owns 34,805 shares of the financial services provider’s stock worth $955,000 after acquiring an additional 477 shares during the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

About Columbia Banking System

Columbia Banking System, Inc (NASDAQ: COLB) is a bank holding company headquartered in Tacoma, Washington. Through its subsidiary, Umpqua Bank, the company provides a range of banking and financial services to individuals, families, businesses and institutions.

Umpqua Bank’s offerings include deposit accounts, consumer and commercial lending, real estate finance, treasury management, cash management, investment services and other business banking solutions. The bank serves small and middle-market companies as well as retail customers through branches, digital banking platforms and relationship-based financial services.

Columbia Banking System traces its history to the formation of Columbia Bank in Washington in 1993.