Keefe, Bruyette & Woods Increases Columbia Banking System (NASDAQ:COLB) Price Target to $34.00

Columbia Banking System (NASDAQ:COLB) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $30.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 12.77% from the stock’s current price.

COLB has been the topic of a number of other reports. Raymond James boosted their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Barclays upped their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Royal Bank of Canada boosted their price objective on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.19.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $30.15 on Wednesday. Columbia Banking System has a one year low of $17.08 and a one year high of $32.85. The company has a 50-day simple moving average of $28.69 and a 200-day simple moving average of $24.42. The firm has a market capitalization of $6.32 billion, a PE ratio of 13.05 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share 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 firm 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 EPS. Equities analysts forecast that Columbia Banking System will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On Columbia Banking System

A number of large investors have recently added to or reduced their stakes in COLB. Tidal Investments LLC boosted its holdings in shares of Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 464 shares during the period. Sanctuary Advisors LLC acquired a new stake in Columbia Banking System during the third quarter worth approximately $288,000. M&T Bank Corp boosted its holdings in shares of Columbia Banking System by 17.0% during the third quarter. M&T Bank Corp now owns 11,859 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 1,727 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Columbia Banking System by 8.1% in the third quarter. Orion Portfolio Solutions LLC now owns 27,607 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 2,072 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Columbia Banking System during the third quarter worth approximately $1,365,000. 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.