Columbia Banking System, Inc. (NASDAQ:COLB) Receives $25.42 Average Target Price from Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have earned an average rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.88.

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Wedbush upgraded shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and upped their price target for the company from $28.00 to $31.00 in a report on Tuesday, September 24th. Raymond James upped their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday. Stephens raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th.

Columbia Banking System Price Performance

COLB opened at $25.34 on Friday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 10.85 and a beta of 0.64. Columbia Banking System has a one year low of $17.08 and a one year high of $28.11. The company has a fifty day moving average price of $24.62 and a 200-day moving average price of $21.27.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. On average, analysts expect that Columbia Banking System will post 2.55 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.68%. Columbia Banking System’s payout ratio is currently 61.80%.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC purchased a new position in shares of Columbia Banking System in the fourth quarter worth $963,000. Orion Portfolio Solutions LLC raised its holdings in shares of Columbia Banking System by 10.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 3,211 shares during the last quarter. United Services Automobile Association lifted its position in Columbia Banking System by 11.3% during the fourth quarter. United Services Automobile Association now owns 17,093 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 1,734 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Columbia Banking System by 75.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 5,752 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Columbia Banking System by 1.6% in the 4th quarter. TD Asset Management Inc now owns 294,675 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 4,661 shares during the period. 92.53% of the stock is 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.