Columbia Banking System (NASDAQ:COLB) Price Target Cut to $27.00 by Analysts at Barclays

Columbia Banking System (NASDAQ:COLB - Get Free Report) had its price target reduced by Barclays from $33.00 to $27.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Barclays's target price suggests a potential upside of 29.56% from the company's previous close.

Several other brokerages also recently weighed in on COLB. Keefe, Bruyette & Woods lowered their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price target on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. UBS Group started coverage on shares of Columbia Banking System in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price on the stock. Finally, Citigroup cut their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $30.00.

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Columbia Banking System Price Performance

Shares of COLB traded up $0.13 during midday trading on Tuesday, reaching $20.84. 1,918,761 shares of the stock were exchanged, compared to its average volume of 1,789,821. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 8.20 and a beta of 0.53. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $32.85. The business's 50-day moving average price is $25.12 and its 200 day moving average price is $27.24.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, equities research analysts expect that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the transaction, the vice president now directly owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.59% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC increased its position in shares of Columbia Banking System by 1.1% in the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock worth $1,128,000 after acquiring an additional 464 shares in the last quarter. Arizona State Retirement System grew its position in Columbia Banking System by 0.8% during the 4th quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock worth $1,641,000 after purchasing an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock valued at $1,025,000 after purchasing an additional 544 shares during the period. Treasurer of the State of North Carolina lifted its stake in Columbia Banking System by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider's stock worth $2,476,000 after acquiring an additional 580 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Columbia Banking System by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock worth $844,000 after purchasing an additional 612 shares during the period. Institutional investors own 92.53% of the company's stock.

About Columbia Banking System

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.