Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $27.00 at Barclays

Columbia Banking System (NASDAQ:COLB) had its price target cut by Barclays from $33.00 to $27.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. UBS Group initiated coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Stephens lowered their price target on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.75.

Columbia Banking System Price Performance

NASDAQ COLB opened at $20.78 on Tuesday. The company’s 50 day simple moving average is $25.63 and its two-hundred day simple moving average is $27.37. The stock has a market capitalization of $4.36 billion, a PE ratio of 8.18 and a beta of 0.53. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, research analysts anticipate that Columbia Banking System will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 6.93%. Columbia Banking System’s payout ratio is currently 56.69%.

Insider Buying and Selling at Columbia Banking System

In other news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the sale, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its stake in shares of Columbia Banking System by 0.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider’s stock valued at $341,024,000 after buying an additional 33,477 shares during the period. American Century Companies Inc. boosted its holdings in Columbia Banking System by 0.8% in the fourth quarter. American Century Companies Inc. now owns 7,602,571 shares of the financial services provider’s stock valued at $205,345,000 after acquiring an additional 61,242 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Columbia Banking System by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,315,896 shares of the financial services provider’s stock valued at $197,602,000 after purchasing an additional 206,643 shares during the period. Dimensional Fund Advisors LP raised its holdings in Columbia Banking System by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider’s stock worth $148,956,000 after purchasing an additional 512,542 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Columbia Banking System by 9.3% in the 4th quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider’s stock worth $66,363,000 after purchasing an additional 209,774 shares during the period. Institutional investors own 92.53% of the company’s stock.

About Columbia Banking System

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.