Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Rating of "Hold" by Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) have earned a consensus rating of "Hold" from the thirteen research firms that are currently covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.12.

Several research firms recently issued reports on COLB. Wedbush upped their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. StockNews.com upgraded Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Keefe, Bruyette & Woods boosted their price objective on Columbia Banking System from $23.00 to $27.00 and gave the company a "market perform" rating in a report on Friday, July 26th. Finally, Truist Financial increased their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th.

Columbia Banking System Stock Down 0.8 %

Shares of Columbia Banking System stock traded down $0.24 during trading hours on Friday, hitting $30.88. 939,256 shares of the company's stock traded hands, compared to its average volume of 2,263,874. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $31.86. The stock has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $23.44. The company has a market cap of $6.47 billion, a PE ratio of 13.37 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period in the previous year, the business earned $0.79 EPS. As a group, equities research analysts predict that Columbia Banking System will post 2.62 EPS for the current year.

Institutional Trading of Columbia Banking System

Large investors have recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in shares of Columbia Banking System in the second quarter worth $33,000. Abich Financial Wealth Management LLC boosted its position in shares of Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Columbia Banking System by 144.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Columbia Banking System by 111.5% in the 2nd 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 in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Columbia Banking System by 137,166.7% during the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 4,115 shares during the last quarter. Institutional investors and hedge funds 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.