JPMorgan Chase & Co. Boosts Columbia Banking System (NASDAQ:COLB) Price Target to $31.00

Columbia Banking System (NASDAQ:COLB) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $28.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.67% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Columbia Banking System in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $31.00 in a report on Friday, October 10th. Wells Fargo & Company boosted their price target on shares of Columbia Banking System from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Citigroup restated a “neutral” rating and set a $26.00 price target (up from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Finally, Zacks Research cut shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.54.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $26.80 on Friday. Columbia Banking System has a twelve month low of $19.61 and a twelve month high of $32.85. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 10.63 and a beta of 0.60. The firm’s 50 day moving average price is $26.11 and its two-hundred day moving average price is $24.71.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The firm had revenue of $348.47 million for the quarter. On average, research analysts forecast that Columbia Banking System will post 2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

A number of large investors have recently bought and sold shares of COLB. GAMMA Investing LLC boosted its holdings in Columbia Banking System by 34.5% in the first quarter. GAMMA Investing LLC now owns 5,331 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,368 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Columbia Banking System by 23.1% in the first quarter. Teacher Retirement System of Texas now owns 61,990 shares of the financial services provider’s stock worth $1,546,000 after purchasing an additional 11,637 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Columbia Banking System by 0.4% in the first quarter. Principal Financial Group Inc. now owns 482,353 shares of the financial services provider’s stock worth $12,030,000 after purchasing an additional 1,970 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Columbia Banking System by 13.5% in the first quarter. D.A. Davidson & CO. now owns 165,940 shares of the financial services provider’s stock worth $4,139,000 after purchasing an additional 19,692 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Columbia Banking System by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 196,894 shares of the financial services provider’s stock worth $4,911,000 after purchasing an additional 34,730 shares in the last quarter. 92.53% of the stock is currently owned by 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.