Keefe, Bruyette & Woods Raises Columbia Banking System (NASDAQ:COLB) Price Target to $33.00

Columbia Banking System (NASDAQ:COLB) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $31.00 to $33.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.93% from the company’s current price.

A number of other equities analysts also recently commented on COLB. Barclays reduced their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. TD Cowen initiated coverage on shares of Columbia Banking System in a research report on Thursday, September 25th. They set a “hold” rating and a $28.00 price target on the stock. Cowen assumed coverage on Columbia Banking System in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Zacks Research lowered Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Piper Sandler set a $33.00 target price on Columbia Banking System in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.50.

Columbia Banking System Trading Up 0.2%

NASDAQ COLB traded up $0.06 on Wednesday, reaching $28.97. 1,115,116 shares of the company were exchanged, compared to its average volume of 2,904,352. The business’s fifty day moving average price is $26.88 and its 200 day moving average price is $25.62. The stock has a market capitalization of $8.66 billion, a P/E ratio of 13.06 and a beta of 0.62. Columbia Banking System has a fifty-two week low of $19.61 and a fifty-two week high of $29.61.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $348.47 million during the quarter. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%. Equities research analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current year.

Hedge Funds Weigh In On Columbia Banking System

Hedge funds have recently bought and sold shares of the company. Nuveen LLC acquired a new position in Columbia Banking System in the 1st quarter valued at about $12,588,000. HighTower Advisors LLC lifted its position in shares of Columbia Banking System by 8.4% during the first quarter. HighTower Advisors LLC now owns 17,141 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 1,330 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Columbia Banking System by 33.0% in the first quarter. Russell Investments Group Ltd. now owns 349,836 shares of the financial services provider’s stock valued at $8,724,000 after purchasing an additional 86,817 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Columbia Banking System by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider’s stock valued at $162,791,000 after purchasing an additional 1,012,796 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Columbia Banking System by 21.0% in the first quarter. Raymond James Financial Inc. now owns 1,006,864 shares of the financial services provider’s stock valued at $25,111,000 after purchasing an additional 174,754 shares in the last quarter. Institutional investors and hedge funds 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.