Stephens Has Lowered Expectations for Columbia Banking System (NASDAQ:COLB) Stock Price

Columbia Banking System (NASDAQ:COLB) had its target price cut by Stephens from $33.00 to $31.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 12.20% from the company’s current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Barclays raised their price objective on shares of Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Truist Financial upped their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada lifted their target price on Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Price Performance

NASDAQ COLB opened at $27.63 on Tuesday. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85. The stock has a market capitalization of $5.79 billion, a P/E ratio of 11.96 and a beta of 0.67. The firm’s 50-day moving average is $28.64 and its two-hundred day moving average is $26.88.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. As a group, analysts anticipate that Columbia Banking System will post 2.66 EPS for the current year.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Banking System by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock worth $185,623,000 after buying an additional 178,327 shares during the last quarter. Wellington Management Group LLP raised its stake in Columbia Banking System by 31.9% during the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after acquiring an additional 1,611,563 shares in the last quarter. Janus Henderson Group PLC lifted its position in Columbia Banking System by 33.1% in the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock valued at $59,099,000 after acquiring an additional 562,467 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Columbia Banking System by 3.4% in the third quarter. Fisher Asset Management LLC now owns 1,614,940 shares of the financial services provider’s stock valued at $42,166,000 after acquiring an additional 53,847 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Columbia Banking System by 14.2% during the third quarter. Segall Bryant & Hamill LLC now owns 1,534,798 shares of the financial services provider’s stock worth $40,074,000 after purchasing an additional 190,311 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other 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.