Columbia Banking System, Inc. (NASDAQ:COLB) Receives $30.38 Average Price Target from Brokerages

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) has received an average recommendation of "Hold" from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $30.38.

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a research note on Friday, January 24th. Citigroup dropped 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 research note on Monday, January 27th. Barclays increased their price target on Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. UBS Group began coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $33.00 to $35.00 in a report on Monday, January 6th.

Columbia Banking System Stock Up 0.5 %

Shares of NASDAQ COLB traded up $0.14 during trading hours on Monday, hitting $26.67. 1,686,620 shares of the stock were exchanged, compared to its average volume of 1,376,469. The firm has a fifty day moving average price of $27.51 and a 200-day moving average price of $27.36. The company has a market cap of $5.59 billion, a PE ratio of 10.50 and a beta of 0.66. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85.

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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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, equities analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 5.40%. Columbia Banking System's dividend payout ratio is presently 56.69%.

Hedge Funds Weigh In On Columbia Banking System

A number of hedge funds and other institutional investors have recently modified their holdings of COLB. Creative Planning lifted its holdings in shares of Columbia Banking System by 19.9% in the 3rd quarter. Creative Planning now owns 50,429 shares of the financial services provider's stock worth $1,317,000 after buying an additional 8,366 shares during the period. Signaturefd LLC raised its position in Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider's stock valued at $151,000 after acquiring an additional 709 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Columbia Banking System during the 3rd quarter worth about $208,000. Allworth Financial LP raised its position in Columbia Banking System by 0.3% during the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider's stock worth $4,583,000 after acquiring an additional 458 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Columbia Banking System by 12.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 127,672 shares of the financial services provider's stock valued at $3,314,000 after acquiring an additional 14,135 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

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.