Brokerages Set Columbia Banking System Inc (NASDAQ:COLB) PT at $41.83

Columbia Banking System Inc (NASDAQ:COLB) has been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $41.83.

Several research firms recently issued reports on COLB. ValuEngine raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Royal Bank of Canada set a $38.00 target price on shares of Columbia Banking System and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, BidaskClub lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, May 24th.

In other Columbia Banking System news, EVP Andy Mcdonald sold 3,481 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $35.06, for a total transaction of $122,043.86. Following the completion of the sale, the executive vice president now directly owns 36,264 shares of the company’s stock, valued at approximately $1,271,415.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.92% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in COLB. Advisors Preferred LLC purchased a new stake in Columbia Banking System during the 2nd quarter valued at approximately $26,000. Quantamental Technologies LLC purchased a new position in shares of Columbia Banking System in the first quarter valued at $32,000. Toronto Dominion Bank grew its holdings in shares of Columbia Banking System by 48.7% in the first quarter. Toronto Dominion Bank now owns 1,005 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 329 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Columbia Banking System by 51.4% in the first quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 572 shares in the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in shares of Columbia Banking System in the second quarter valued at $86,000. 91.09% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System stock traded up $0.44 during midday trading on Wednesday, hitting $34.89. The stock had a trading volume of 160,967 shares, compared to its average volume of 314,854. The firm’s fifty day moving average is $35.69 and its two-hundred day moving average is $35.61. The company has a market capitalization of $2.51 billion, a PE ratio of 14.13, a P/E/G ratio of 1.93 and a beta of 1.07. Columbia Banking System has a 52-week low of $30.65 and a 52-week high of $43.39. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. The company had revenue of $150.76 million during the quarter, compared to analyst estimates of $147.22 million. Columbia Banking System had a net margin of 30.92% and a return on equity of 9.20%. During the same period in the prior year, the firm posted $0.57 EPS. As a group, equities research analysts predict that Columbia Banking System will post 2.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, August 6th. Columbia Banking System’s dividend payout ratio (DPR) is currently 45.34%.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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