Columbia Banking System, Inc. (COLB) – What Are Researchers Saying About This Stock?

Columbia Banking System, Inc. (NASDAQ:COLB) has been given a consensus rating of “Hold” by the fourteen analysts that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.62.

A number of equities analysts recently commented on COLB shares. Royal Bank Of Canada boosted their target price on shares of Columbia Banking System from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Stephens raised their price target on Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft began coverage on Columbia Banking System in a report on Tuesday, October 13th. They set a “hold” rating and a $32.00 price target for the company. Citigroup decreased their target price on Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, September 22nd. Finally, Keefe, Bruyette & Woods upped their price target on Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, July 24th.

Insider Buying and Selling at Columbia Banking System

In other news, Director Steven Gardner sold 10,522 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $31.23, for a total value of $328,602.06. Following the completion of the transaction, the director owned 2,577 shares in the company, valued at approximately $80,479.71. This represents a 80.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Columbia Banking System

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Columbia Banking System in the 2nd quarter valued at about $880,443,000. Dimensional Fund Advisors LP grew its stake in Columbia Banking System by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,549,603 shares of the financial services provider’s stock worth $371,656,000 after buying an additional 408,087 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Columbia Banking System during the second quarter worth approximately $120,867,000. The Manufacturers Life Insurance Company acquired a new position in Columbia Banking System during the second quarter worth approximately $68,906,000. Finally, Pzena Investment Management LLC acquired a new position in Columbia Banking System during the second quarter worth approximately $68,245,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Performance

Shares of COLB opened at $30.85 on Wednesday. The stock has a 50-day simple moving average of $29.69 and a 200-day simple moving average of $29.94. The stock has a market capitalization of $8.52 billion, a PE ratio of 10.67, a PEG ratio of 0.85 and a beta of 0.72. Columbia Banking System has a 1 year low of $25.51 and a 1 year high of $33.67.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Columbia Banking System had a return on equity of 11.93% and a net margin of 22.83%. The business had revenue of $702.00 million during the quarter, compared to the consensus estimate of $687.74 million. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. Analysts predict that Columbia Banking System will post 3.08 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a yield of 4.8%. Columbia Banking System’s dividend payout ratio (DPR) is presently 51.21%.

Columbia Banking System Company Profile

Columbia Banking System is a bank holding company whose principal subsidiary, Umpqua Bank, provides commercial and consumer banking services. Its offerings include deposit accounts, business and personal lending, cash management, and other financial services for individuals, small businesses, and larger commercial clients. The company serves customers across the western United States, including the Pacific Northwest and California. Its banking operations use the Umpqua Bank name. Columbia Banking System was formed through the 2023 merger of Columbia Bank and Umpqua Bank’s parent company, Umpqua Holdings Corporation.