Columbia Banking System, Inc. (NASDAQ:COLB) Receives $30.08 Consensus PT from Brokerages

Columbia Banking System, Inc. (NASDAQ:COLB) has received an average recommendation of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.0769.

A number of equities research analysts recently issued reports on COLB shares. Cowen reiterated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Royal Bank Of Canada set a $30.00 price objective on Columbia Banking System and gave the stock a “sector perform” rating in a report on Monday, January 12th. Finally, Piper Sandler set a $33.00 price objective on shares of Columbia Banking System in a research report on Monday, November 3rd.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds have recently added to or reduced their stakes in COLB. Aspire Capital Advisors LLC purchased a new position in shares of Columbia Banking System during the 4th quarter valued at about $212,000. Linden Thomas Advisory Services LLC grew its position in Columbia Banking System by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider’s stock valued at $3,422,000 after acquiring an additional 456 shares during the last quarter. Range Financial Group LLC raised its stake in shares of Columbia Banking System by 7.3% during the fourth quarter. Range Financial Group LLC now owns 78,078 shares of the financial services provider’s stock worth $2,182,000 after acquiring an additional 5,292 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Columbia Banking System by 32.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 25,935 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 6,316 shares during the last quarter. Finally, Quad Cities Investment Group LLC lifted its holdings in shares of Columbia Banking System by 6.5% in the 4th quarter. Quad Cities Investment Group LLC now owns 45,283 shares of the financial services provider’s stock worth $1,266,000 after acquiring an additional 2,769 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 1.2%

COLB stock opened at $28.91 on Thursday. The firm has a 50 day moving average of $28.20 and a 200-day moving average of $26.52. The firm has a market capitalization of $8.65 billion, a P/E ratio of 13.02 and a beta of 0.60. Columbia Banking System has a 12 month low of $19.61 and a 12 month high of $29.72.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.19. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. The business had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $565.11 million. During the same period in the prior year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Sell-side analysts predict that Columbia Banking System will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.37 dividend. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Friday, November 28th. Columbia Banking System’s payout ratio is currently 66.67%.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.