Columbia Banking System (NASDAQ:COLB) Given New $31.00 Price Target at Stephens

Columbia Banking System (NASDAQ:COLB - Get Free Report) had its price objective dropped by equities researchers at Stephens from $33.00 to $31.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Stephens' price target indicates a potential upside of 11.09% from the stock's previous close.

COLB has been the subject of a number of other research reports. Barclays raised their price objective on Columbia Banking System from $29.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, January 24th. Truist Financial lifted 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. JPMorgan Chase & Co. reduced their target price on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company raised 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 report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $30.38.

Columbia Banking System Stock Down 0.4 %

Shares of NASDAQ:COLB traded down $0.13 during trading on Tuesday, hitting $27.91. The stock had a trading volume of 640,177 shares, compared to its average volume of 1,406,874. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85. The company has a market capitalization of $5.85 billion, a PE ratio of 10.99 and a beta of 0.67. The firm's fifty day moving average is $28.59 and its 200 day moving average is $26.89.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results 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%. Equities research analysts expect that Columbia Banking System will post 2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in Columbia Banking System by 31.9% during the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider's stock worth $173,873,000 after acquiring an additional 1,611,563 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in shares of Columbia Banking System in the third quarter valued at approximately $26,593,000. Holocene Advisors LP boosted its holdings in shares of Columbia Banking System by 1,001.8% in the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider's stock valued at $25,126,000 after purchasing an additional 874,986 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Columbia Banking System by 33.1% in the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider's stock valued at $59,099,000 after purchasing an additional 562,467 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its holdings in shares of Columbia Banking System by 98.6% in the third quarter. Stieven Capital Advisors L.P. now owns 944,332 shares of the financial services provider's stock valued at $24,657,000 after purchasing an additional 468,832 shares during the period. 92.53% of the stock is owned by institutional investors.

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.