Citigroup Cuts Columbia Banking System (NASDAQ:COLB) Price Target to $30.00

Columbia Banking System (NASDAQ:COLB) had its target price trimmed by Citigroup from $31.00 to $30.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other research analysts also recently commented on COLB. UBS Group assumed coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wedbush lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.00.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $28.13 on Monday. The stock has a market capitalization of $5.89 billion, a P/E ratio of 12.18 and a beta of 0.67. The stock’s fifty day moving average is $28.73 and its 200 day moving average is $26.83. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. Equities research analysts forecast that Columbia Banking System will post 2.66 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.36 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.12%. Columbia Banking System’s dividend payout ratio is 62.34%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Columbia Banking System by 54.9% in the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock valued at $95,000 after buying an additional 1,290 shares during the period. Farther Finance Advisors LLC boosted its holdings in Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 4,553 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Columbia Banking System by 26.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,091 shares during the period. Signaturefd LLC raised its holdings in Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 709 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Columbia Banking System by 14.9% in the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 875 shares during the period. 92.53% of the stock is owned by institutional investors.

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.