Columbia Banking System, Inc. (NASDAQ:COLB) Receives $28.19 Average PT from Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.19.

Several brokerages recently commented on COLB. Royal Bank of Canada boosted their price target on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Raymond James upped their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lowered their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Wedbush increased their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th.

Columbia Banking System Stock Down 0.8 %

Shares of Columbia Banking System stock opened at $29.37 on Wednesday. The firm has a market cap of $6.15 billion, a PE ratio of 12.71 and a beta of 0.64. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $32.85. The business has a 50-day moving average price of $29.27 and a 200 day moving average price of $24.99.

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 (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The business had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. During the same period last year, the firm posted $0.79 earnings per share. On average, sell-side analysts expect that Columbia Banking System will post 2.63 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.90%. Columbia Banking System’s dividend payout ratio is currently 62.34%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of COLB. Picton Mahoney Asset Management purchased a new position in shares of Columbia Banking System during the second quarter worth $33,000. Allspring Global Investments Holdings LLC lifted its stake in Columbia Banking System by 111.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,380 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Columbia Banking System by 54.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 1,290 shares during the period. Signaturefd LLC grew its position in Columbia Banking System by 44.1% in the 2nd quarter. Signaturefd LLC now owns 5,058 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 1,548 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Columbia Banking System by 8,253.4% during the second quarter. Blue Trust Inc. now owns 6,098 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 6,025 shares during the period. Hedge funds and other 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.