Columbia Banking System, Inc. (NASDAQ:COLB) Receives $29.00 Average Target Price from Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $29.31.

Several equities analysts have commented on COLB shares. JPMorgan Chase & Co. decreased their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. UBS Group started coverage on shares of Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective on the stock. Wedbush upped 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. Finally, Raymond James upped their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently bought and sold shares of COLB. Allspring Global Investments Holdings LLC lifted its holdings in shares of Columbia Banking System by 111.5% in the second 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 during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Columbia Banking System by 18.7% in the second quarter. Commonwealth Equity Services LLC now owns 68,521 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 10,776 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Columbia Banking System by 37.8% in the second quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider’s stock valued at $1,947,000 after buying an additional 26,877 shares during the period. Arizona State Retirement System increased its stake in shares of Columbia Banking System by 1.9% in the second quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider’s stock valued at $1,162,000 after buying an additional 1,085 shares during the period. Finally, LSV Asset Management increased its stake in shares of Columbia Banking System by 333.8% in the second quarter. LSV Asset Management now owns 639,042 shares of the financial services provider’s stock valued at $12,711,000 after buying an additional 491,742 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Down 0.8 %

Shares of COLB stock opened at $27.20 on Friday. The company’s fifty day simple moving average is $29.34 and its 200-day simple moving average is $26.02. The firm has a market cap of $5.70 billion, a PE ratio of 11.77 and a beta of 0.67. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the previous year, the company earned $0.79 earnings per share. On average, equities analysts predict that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 5.29%. Columbia Banking System’s dividend payout ratio is 62.34%.

About Columbia Banking System

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.