Brokerages Set Columbia Banking System, Inc. (NASDAQ:COLB) Price Target at $25.81

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.81.

Several brokerages have issued reports on COLB. JPMorgan Chase & Co. dropped their target price on 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. Royal Bank of Canada lifted their target price on Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Raymond James boosted 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 $23.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Columbia Banking System by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 49,063 shares of the financial services provider’s stock worth $1,281,000 after buying an additional 1,110 shares in the last quarter. Leuthold Group LLC purchased a new stake in shares of Columbia Banking System during the third quarter worth approximately $3,181,000. State of Alaska Department of Revenue raised its stake in Columbia Banking System by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,177 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 1,650 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Columbia Banking System by 9.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,712 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Columbia Banking System by 12.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 127,672 shares of the financial services provider’s stock valued at $3,314,000 after purchasing an additional 14,135 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $28.27 on Tuesday. The firm has a market capitalization of $5.92 billion, a PE ratio of 12.13 and a beta of 0.64. The business has a 50 day simple moving average of $25.41 and a two-hundred day simple moving average of $22.15. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $28.28.

Columbia Banking System (NASDAQ:COLB) last released 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 15.94% and a return on equity of 10.89%. During the same period in the previous year, the business posted $0.79 earnings per share. Equities research analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is currently 61.80%.

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.