Columbia Banking System (NASDAQ:COLB) Now Covered by UBS Group

Research analysts at UBS Group began coverage on shares of Columbia Banking System (NASDAQ:COLB – Get Rating) in a research report issued on Wednesday, The Fly reports. The brokerage set a “neutral” rating and a $23.00 price target on the financial services provider’s stock. UBS Group’s price target would suggest a potential upside of 4.83% from the company’s previous close.

Several other brokerages also recently issued reports on COLB. StockNews.com began coverage on shares of Columbia Banking System in a research report on Friday, March 10th. They set a “hold” rating for the company. Royal Bank of Canada reduced their target price on shares of Columbia Banking System from $37.00 to $33.00 in a report on Wednesday, January 25th. Truist Financial initiated coverage on shares of Columbia Banking System in a report on Thursday, March 2nd. They set a “hold” rating and a $33.00 target price for the company. Stephens increased their target price on shares of Columbia Banking System from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, February 6th. Finally, Wells Fargo & Company initiated coverage on shares of Columbia Banking System in a report on Tuesday, February 28th. They set an “overweight” rating and a $37.00 target price for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.29.

Columbia Banking System Trading Up 3.4 %

COLB opened at $21.94 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.70. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 6.63 and a beta of 0.71. The firm has a 50 day simple moving average of $29.39 and a 200 day simple moving average of $30.56. Columbia Banking System has a fifty-two week low of $20.25 and a fifty-two week high of $35.53.

Columbia Banking System (NASDAQ:COLB – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. Columbia Banking System had a net margin of 33.55% and a return on equity of 11.87%. The company had revenue of $203.47 million during the quarter, compared to the consensus estimate of $197.70 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. On average, sell-side analysts anticipate that Columbia Banking System will post 3.54 earnings per share for the current year.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds and other institutional investors have recently made changes to their positions in COLB. IFP Advisors Inc grew its holdings in Columbia Banking System by 203.2% during the 4th quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 317 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Columbia Banking System in the 4th quarter worth $32,000. Wipfli Financial Advisors LLC bought a new stake in shares of Columbia Banking System in the 3rd quarter worth $40,000. CWM LLC grew its stake in shares of Columbia Banking System by 63.5% in the 3rd quarter. CWM LLC now owns 1,390 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 540 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Columbia Banking System by 178.9% in the 1st quarter. Covestor Ltd now owns 2,421 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 1,553 shares in the last quarter.

Columbia Banking System Company Profile

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Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It offers its services to small and medium-sized businesses, professionals, and individuals. It operates through the Washington, Oregon, Idaho, and California geographical segments. The company was founded in 1993 and is headquartered in Tacoma, WA.