Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $22.00 at JPMorgan Chase & Co.

Columbia Banking System (NASDAQ:COLB) had its target price decreased by JPMorgan Chase & Co. from $23.00 to $22.00 in a report released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on COLB. Barclays lifted their price target on Columbia Banking System from $20.00 to $21.00 and gave the company an equal weight rating in a report on Friday, April 26th. Wells Fargo & Company reduced their price target on Columbia Banking System from $25.00 to $22.00 and set an equal weight rating for the company in a report on Wednesday, April 10th. Citigroup reduced their price target on Columbia Banking System from $25.00 to $20.00 and set a neutral rating for the company in a report on Wednesday, March 13th. Truist Financial reduced their price target on Columbia Banking System from $22.00 to $20.00 and set a hold rating for the company in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reduced their price target on Columbia Banking System from $25.00 to $23.00 and set a market perform rating for the company in a report on Friday, April 5th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $22.04.

Columbia Banking System Trading Up 1.4 %

Shares of NASDAQ COLB opened at $19.08 on Thursday. Columbia Banking System has a one year low of $17.08 and a one year high of $28.11. The firm has a market capitalization of $3.99 billion, a PE ratio of 8.19 and a beta of 0.67. The business has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $20.54.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The firm had revenue of $473.72 million during the quarter, compared to analyst estimates of $480.39 million. During the same period last year, the company posted $0.46 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts anticipate that Columbia Banking System will post 2.44 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 7.55%. The ex-dividend date of this dividend was Thursday, May 23rd. Columbia Banking System’s dividend payout ratio is currently 61.80%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Pacific Financial bought a new position in Columbia Banking System in the 4th quarter worth approximately $40,000. Headlands Technologies LLC bought a new position in Columbia Banking System in the 4th quarter worth approximately $42,000. GAMMA Investing LLC bought a new position in Columbia Banking System in the 4th quarter worth approximately $48,000. Fifth Third Bancorp increased its position in Columbia Banking System by 113.4% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,047 shares during the period. Finally, Abich Financial Wealth Management LLC increased its position in Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,020 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.