Columbia Banking System, Inc. (NASDAQ:COLB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned an average rating of “Hold” from the fifteen brokerages that are covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $32.1923.

Several analysts have recently weighed in on COLB shares. UBS Group reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Columbia Banking System in a report on Wednesday, February 4th. Citigroup raised their price objective on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. lifted their price objective on Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Keefe, Bruyette & Woods boosted their target price on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Stephens increased their target price on Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $26.79 on Tuesday. The stock has a fifty day moving average price of $29.02 and a 200 day moving average price of $27.83. Columbia Banking System has a 1-year low of $19.61 and a 1-year high of $32.70. The company has a market cap of $7.92 billion, a PE ratio of 11.85 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million for the quarter, compared to analysts’ expectations of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same period in the previous year, the company posted $0.71 EPS. Analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Friday, February 27th. Columbia Banking System’s dividend payout ratio is currently 65.49%.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 2,241 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $63,308.25. Following the completion of the sale, the vice president owned 100,469 shares of the company’s stock, valued at approximately $2,838,249.25. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven R. Gardner sold 13,725 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $29.43, for a total transaction of $403,926.75. The SEC filing for this sale provides additional information. Insiders sold 19,354 shares of company stock valued at $561,971 in the last quarter. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its holdings in Columbia Banking System by 612.8% in the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after buying an additional 864 shares in the last quarter. West Oak Capital LLC purchased a new stake in shares of Columbia Banking System during the 3rd quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $29,000. First Horizon Corp acquired a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. increased its stake in Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.