Columbia Banking System, Inc. (NASDAQ:COLB) Receives $29.00 Average Target Price from Analysts

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) has been given an average rating of "Hold" by the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $29.00.

Several analysts recently commented on COLB shares. Keefe, Bruyette & Woods boosted their price target on Columbia Banking System from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. dropped their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada boosted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Finally, Raymond James upped their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd.

Institutional Trading of Columbia Banking System

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Columbia Banking System by 111.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock worth $52,000 after purchasing an additional 1,380 shares during the period. Commonwealth Equity Services LLC raised its stake in Columbia Banking System by 18.7% in the second quarter. Commonwealth Equity Services LLC now owns 68,521 shares of the financial services provider's stock valued at $1,363,000 after buying an additional 10,776 shares during the period. Natixis Advisors LLC lifted its holdings in Columbia Banking System by 37.8% during the 2nd quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider's stock valued at $1,947,000 after purchasing an additional 26,877 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Columbia Banking System by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider's stock worth $1,162,000 after buying an additional 1,085 shares during the last quarter. Finally, LSV Asset Management grew its stake in Columbia Banking System by 333.8% in the 2nd quarter. LSV Asset Management now owns 639,042 shares of the financial services provider's stock valued at $12,711,000 after buying an additional 491,742 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Stock Performance

Shares of COLB stock traded up $0.25 during mid-day trading on Friday, reaching $27.11. The company's stock had a trading volume of 829,686 shares, compared to its average volume of 829,243. The firm's 50-day moving average is $29.39 and its two-hundred day moving average is $25.90. The company has a market cap of $5.68 billion, a P/E ratio of 11.74 and a beta of 0.64. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $32.85.

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

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.31%. Columbia Banking System's dividend payout ratio is currently 62.34%.

Columbia Banking System Company Profile

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.