Columbia Banking System (NASDAQ:COLB) Given New $25.00 Price Target at Barclays

Columbia Banking System (NASDAQ:COLB) had its target price hoisted by Barclays from $24.00 to $25.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

COLB has been the subject of several other research reports. Wedbush upgraded shares of Columbia Banking System from a neutral rating to an outperform rating and lifted their price objective for the stock from $28.00 to $31.00 in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an equal weight rating in a research report on Friday, July 26th. Stephens increased their price target on Columbia Banking System from $22.00 to $26.00 and gave the stock an equal weight rating in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on Columbia Banking System from $21.00 to $26.00 and gave the company a sector perform rating in a research report on Friday, July 26th. Finally, Piper Sandler reissued an overweight rating and set a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $25.50.

Columbia Banking System Trading Down 0.0 %

Columbia Banking System stock opened at $25.96 on Friday. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 11.14 and a beta of 0.64. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The stock’s 50 day moving average is $24.51 and its 200-day moving average is $21.11.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. During the same period in the prior year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, equities research analysts predict that Columbia Banking System will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is 61.80%.

Institutional Trading of Columbia Banking System

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC bought a new stake in Columbia Banking System during the 4th quarter worth $963,000. Orion Portfolio Solutions LLC raised its position in shares of Columbia Banking System by 10.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 3,211 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Columbia Banking System by 75.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 5,752 shares during the period. TD Asset Management Inc boosted its holdings in Columbia Banking System by 1.6% in the fourth quarter. TD Asset Management Inc now owns 294,675 shares of the financial services provider’s stock valued at $7,862,000 after acquiring an additional 4,661 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Columbia Banking System by 25.2% during the 4th quarter. Stifel Financial Corp now owns 297,675 shares of the financial services provider’s stock valued at $7,942,000 after purchasing an additional 59,848 shares during the period. Institutional investors own 92.53% of the company’s stock.

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.