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

Columbia Banking System, Inc. (NASDAQ:COLB) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $33.3462.

Several brokerages have commented on COLB. Weiss Ratings raised Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a research note on Wednesday, July 1st. Barclays reduced their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods lifted 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 report on Friday, July 24th.

Columbia Banking System Stock Down 0.1%

Columbia Banking System stock opened at $30.69 on Friday. Columbia Banking System has a 52 week low of $23.83 and a 52 week high of $33.67. The stock has a 50-day moving average price of $31.71 and a 200 day moving average price of $30.04. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 3.04 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $677.00 million for the quarter, compared to analyst estimates of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the prior year, the business earned $0.76 earnings per share. Research analysts anticipate that Columbia Banking System will post 3.03 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, August 28th. Columbia Banking System’s payout ratio is presently 58.96%.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of the business’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 transaction of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at approximately $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Columbia Banking System

Hedge funds and other institutional investors have recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. purchased a new position in Columbia Banking System in the 4th quarter valued at $9,782,000. Easterly Investment Partners LLC grew its holdings in shares of Columbia Banking System by 10.6% during the fourth quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock worth $19,934,000 after buying an additional 68,388 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Columbia Banking System by 12.0% during the fourth quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider’s stock worth $12,911,000 after buying an additional 49,454 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Columbia Banking System by 3,617.7% in the first quarter. Fifth Third Bancorp now owns 75,469 shares of the financial services provider’s stock valued at $2,070,000 after buying an additional 73,439 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of Columbia Banking System by 12.7% in the first quarter. Pzena Investment Management LLC now owns 2,033,219 shares of the financial services provider’s stock valued at $55,771,000 after buying an additional 228,825 shares during the last quarter. Hedge funds and other institutional investors 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.