Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $31.00 at Stephens

Columbia Banking System (NASDAQ:COLB) had its price target cut by Stephens from $33.00 to $31.00 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on COLB. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price objective on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. UBS Group assumed coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price for the company. Wedbush raised their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Citigroup cut their price objective on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Columbia Banking System currently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Price Performance

NASDAQ:COLB opened at $28.03 on Tuesday. The company has a 50 day moving average price of $28.59 and a 200-day moving average price of $26.89. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $32.85. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 12.13 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. On average, sell-side analysts anticipate that Columbia Banking System will post 2.66 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

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 dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.14%. Columbia Banking System’s dividend payout ratio is presently 56.69%.

Institutional Investors Weigh In On Columbia Banking System

A number of hedge funds have recently modified their holdings of COLB. Principal Securities Inc. boosted its holdings in Columbia Banking System by 171.3% in the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,343 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 1,290 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 worth $127,000 after acquiring an additional 4,553 shares during the period. Hexagon Capital Partners LLC increased its stake in Columbia Banking System by 26.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Signaturefd LLC raised its position in Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 709 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.