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

Columbia Banking System, Inc. (NASDAQ:COLB) has earned an average rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $29.31.

Several brokerages recently issued reports on COLB. Truist Financial raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Barclays upped their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Institutional Trading of Columbia Banking System

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in Columbia Banking System in the third quarter valued at $288,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Columbia Banking System by 1.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after purchasing an additional 36,867 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after buying an additional 37,941 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Columbia Banking System by 439.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 65,072 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Columbia Banking System by 219.3% in the third quarter. Jane Street Group LLC now owns 212,889 shares of the financial services provider’s stock worth $5,559,000 after buying an additional 146,219 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.1 %

COLB opened at $27.16 on Friday. The stock has a market capitalization of $5.69 billion, a P/E ratio of 11.76 and a beta of 0.67. The firm’s fifty day simple moving average is $29.27 and its 200 day simple moving average is $26.04. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The business had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same period last year, the firm posted $0.79 EPS. On average, equities research analysts predict that Columbia Banking System will post 2.63 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

Columbia Banking System Company Profile

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.