Keefe, Bruyette & Woods Cuts Columbia Banking System (NASDAQ:COLB) Price Target to $33.00

Columbia Banking System (NASDAQ:COLB) had its target price cut by Keefe, Bruyette & Woods from $34.00 to $33.00 in a report released on Friday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

COLB has been the topic of several other research reports. Truist Financial raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. JPMorgan Chase & Co. lowered their target price on shares of 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. Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, UBS Group initiated coverage on Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System has an average rating of “Hold” and an average price target of $29.23.

Columbia Banking System Stock Down 0.7 %

Shares of NASDAQ:COLB opened at $27.96 on Friday. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $32.85. The firm has a market capitalization of $5.86 billion, a P/E ratio of 12.10 and a beta of 0.67. The firm has a fifty day moving average of $28.78 and a two-hundred day moving average of $26.79.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. Equities research analysts expect that Columbia Banking System will post 2.66 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COLB. GAMMA Investing LLC grew its position in Columbia Banking System by 54.9% during the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,290 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,553 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of 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 valued at $136,000 after purchasing an additional 1,091 shares during the period. Signaturefd LLC raised its stake in shares of 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 in the last quarter. Finally, Blue Trust Inc. lifted its position in Columbia Banking System by 14.9% in the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 875 shares during the period. 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.