Columbia Banking System (NASDAQ:COLB) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Columbia Banking System (NASDAQ:COLBGet Free Report) had its price target boosted by research analysts at Royal Bank Of Canada from $30.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 8.77% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. UBS Group reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Columbia Banking System in a research report on Tuesday, January 6th. Piper Sandler set a $33.00 price target on shares of Columbia Banking System in a research report on Monday, November 3rd. Stephens reissued an “overweight” rating and set a $37.00 target price on shares of Columbia Banking System in a research report on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Banking System in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.77.

Read Our Latest Research Report on COLB

Columbia Banking System Trading Down 0.8%

COLB stock traded down $0.25 during trading on Friday, hitting $29.42. 1,030,255 shares of the company’s stock were exchanged, compared to its average volume of 2,190,662. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 13.34 and a beta of 0.60. Columbia Banking System has a 52-week low of $19.61 and a 52-week high of $31.11. The business has a 50-day moving average price of $28.34 and a two-hundred day moving average price of $26.58.

Columbia Banking System (NASDAQ:COLBGet Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. The firm had revenue of $715.00 million during the quarter, compared to analysts’ expectations of $693.23 million. During the same quarter in the prior year, the business earned $0.71 EPS. On average, equities research analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Columbia Banking System during the 2nd quarter valued at $2,187,000. Highland Capital Management LLC acquired a new stake in shares of Columbia Banking System during the third quarter worth $4,461,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Columbia Banking System by 25.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock valued at $192,941,000 after purchasing an additional 1,497,177 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Columbia Banking System by 40.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 83,200 shares of the financial services provider’s stock valued at $2,142,000 after purchasing an additional 24,100 shares during the period. Finally, HoldCo Asset Management LP purchased a new position in Columbia Banking System in the 2nd quarter worth about $104,819,000. Institutional investors own 92.53% of the company’s stock.

Key Headlines Impacting Columbia Banking System

Here are the key news stories impacting Columbia Banking System this week:

About Columbia Banking System

(Get Free Report)

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.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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