Columbia Banking System, Inc. (NASDAQ:COLB) Receives $29.54 Consensus Price Target from Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given a consensus recommendation of “Hold” by the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $29.3846.

Several research firms have weighed in on COLB. JPMorgan Chase & Co. upped their target price on Columbia Banking System from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods raised Columbia Banking System from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $31.00 in a research report on Friday, October 10th. Zacks Research downgraded Columbia Banking System from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Stephens upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Monday, August 4th. Finally, Royal Bank Of Canada increased their price target on Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th.

Columbia Banking System Stock Up 0.4%

Shares of NASDAQ COLB opened at $26.92 on Friday. The business’s 50 day moving average price is $26.11 and its two-hundred day moving average price is $24.77. The company has a market cap of $5.66 billion, a PE ratio of 10.68 and a beta of 0.60. Columbia Banking System has a twelve month low of $19.61 and a twelve month high of $32.85.

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

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.3%. Columbia Banking System’s payout ratio is 64.86%.

Hedge Funds Weigh In On Columbia Banking System

Several institutional investors have recently bought and sold shares of the company. Verdence Capital Advisors LLC raised its position in shares of Columbia Banking System by 2.0% in the second quarter. Verdence Capital Advisors LLC now owns 20,714 shares of the financial services provider’s stock worth $484,000 after buying an additional 403 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Columbia Banking System by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 58,700 shares of the financial services provider’s stock worth $1,464,000 after purchasing an additional 500 shares during the last quarter. State of Michigan Retirement System boosted its position in Columbia Banking System by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 50,141 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 500 shares in the last quarter. Xponance Inc. boosted its position in Columbia Banking System by 2.2% during the 1st quarter. Xponance Inc. now owns 24,313 shares of the financial services provider’s stock valued at $606,000 after acquiring an additional 517 shares in the last quarter. Finally, Mengis Capital Management Inc. boosted its position in Columbia Banking System by 1.1% during the 2nd quarter. Mengis Capital Management Inc. now owns 50,511 shares of the financial services provider’s stock valued at $1,181,000 after acquiring an additional 529 shares in the last quarter. Hedge funds and other 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.