Brokerages Set Columbia Banking System, Inc. (NASDAQ:COLB) Target Price at $28.19

Shares of Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) have earned an average recommendation of "Hold" from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $28.19.

Several research firms have issued reports on COLB. Raymond James upped their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Truist Financial upped their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. Wedbush boosted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Royal Bank of Canada raised their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Institutional Investors Weigh In On Columbia Banking System

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its position in shares of Columbia Banking System by 84.2% during the 2nd quarter. CWM LLC now owns 13,468 shares of the financial services provider's stock worth $268,000 after purchasing an additional 6,156 shares during the last quarter. Hunter Perkins Capital Management LLC boosted its position in shares of Columbia Banking System by 4.6% in the second quarter. Hunter Perkins Capital Management LLC now owns 277,697 shares of the financial services provider's stock valued at $5,523,000 after acquiring an additional 12,230 shares during the period. Blue Trust Inc. grew its stake in shares of Columbia Banking System by 8,253.4% in the second quarter. Blue Trust Inc. now owns 6,098 shares of the financial services provider's stock worth $118,000 after acquiring an additional 6,025 shares during the last quarter. Leeward Investments LLC MA increased its position in Columbia Banking System by 5.6% during the second quarter. Leeward Investments LLC MA now owns 931,912 shares of the financial services provider's stock worth $18,536,000 after acquiring an additional 49,450 shares during the period. Finally, ZWJ Investment Counsel Inc. raised its stake in Columbia Banking System by 18.7% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 121,931 shares of the financial services provider's stock valued at $2,425,000 after purchasing an additional 19,200 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Trading Up 2.2 %

COLB traded up $0.64 during trading on Wednesday, reaching $30.16. 770,159 shares of the company were exchanged, compared to its average volume of 2,187,422. The stock has a market cap of $6.32 billion, a P/E ratio of 13.06 and a beta of 0.64. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $32.85. The firm has a 50 day moving average of $29.02 and a 200 day moving average of $24.75.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The firm had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, analysts forecast that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System's dividend payout ratio (DPR) is presently 62.34%.

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.