Columbia Banking System, Inc. (NASDAQ:COLB) Receives $29.64 Consensus Target Price from Analysts

Columbia Banking System, Inc. (NASDAQ:COLB) has received a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $29.71.

Several brokerages have issued reports on COLB. Keefe, Bruyette & Woods dropped their price objective on Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Barclays raised their price objective on Columbia Banking System from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Piper Sandler dropped their price objective on Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Raymond James set a $27.00 price objective on Columbia Banking System and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada dropped their price objective on Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th.

Columbia Banking System Price Performance

NASDAQ:COLB opened at $24.08 on Wednesday. The firm has a market capitalization of $5.06 billion, a PE ratio of 9.48 and a beta of 0.63. The business’s fifty day moving average price is $23.13 and its 200 day moving average price is $25.86. Columbia Banking System has a 12 month low of $18.22 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. As a group, equities analysts anticipate that Columbia Banking System will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Friday, May 30th. Columbia Banking System’s dividend payout ratio is currently 61.02%.

Hedge Funds Weigh In On Columbia Banking System

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Columbia Banking System by 14.9% in the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 875 shares during the period. Pacer Advisors Inc. lifted its position in Columbia Banking System by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 612 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Columbia Banking System by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 151,620 shares of the financial services provider’s stock valued at $4,115,000 after purchasing an additional 23,948 shares during the period. Bleakley Financial Group LLC lifted its position in Columbia Banking System by 5.0% in the fourth quarter. Bleakley Financial Group LLC now owns 26,362 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 1,251 shares during the period. Finally, Savant Capital LLC lifted its position in Columbia Banking System by 6.1% in the fourth quarter. Savant Capital LLC now owns 16,045 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 919 shares during the period. 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.