Columbia Banking System (NASDAQ:COLB) Sets New 12-Month High – What’s Next?

Columbia Banking System, Inc. (NASDAQ:COLB) shares reached a new 52-week high during trading on Monday . The stock traded as high as $32.20 and last traded at $32.20, with a volume of 575 shares traded. The stock had previously closed at $31.64.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Raymond James boosted their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Barclays upped their price target on shares of Columbia Banking System from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Truist Financial raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and an average price target of $27.12.

Columbia Banking System Stock Performance

The stock has a market capitalization of $6.85 billion, a PE ratio of 13.70 and a beta of 0.62. The business has a 50 day moving average of $27.78 and a two-hundred day moving average of $23.84.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter last year, the firm earned $0.79 EPS. On average, equities analysts expect that Columbia Banking System, Inc. will post 2.63 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, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s dividend payout ratio is presently 62.34%.

Institutional Investors Weigh In On Columbia Banking System

Institutional investors and hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in Columbia Banking System during the 2nd quarter worth approximately $33,000. Abich Financial Wealth Management LLC increased its stake in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares during the period. GAMMA Investing LLC raised its holdings in shares of Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 4,115 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

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.