Columbia Banking System (NASDAQ:COLB) Price Target Lowered to $30.00 at Citigroup

Columbia Banking System (NASDAQ:COLB - Get Free Report) had its price target decreased by equities researchers at Citigroup from $31.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Citigroup's price target suggests a potential upside of 6.65% from the company's previous close.

COLB has been the subject of several 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. Wedbush lifted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut their price objective on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday. Wells Fargo & Company upgraded shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $33.00 to $35.00 in a report on Monday, January 6th. Finally, Raymond James boosted their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.00.

Columbia Banking System Stock Up 0.6 %

Shares of NASDAQ:COLB traded up $0.17 on Monday, hitting $28.13. The company had a trading volume of 1,912,740 shares, compared to its average volume of 1,515,453. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $32.85. The firm's 50-day simple moving average is $28.78 and its two-hundred day simple moving average is $26.79. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 12.18 and a beta of 0.67.

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 for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. Equities research analysts anticipate that Columbia Banking System will post 2.66 EPS for the current year.

Institutional Investors Weigh In On Columbia Banking System

A number of hedge funds have recently added to or reduced their stakes in COLB. GAMMA Investing LLC grew its holdings in shares of Columbia Banking System by 54.9% in the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider's stock worth $95,000 after acquiring an additional 1,290 shares during the period. Farther Finance Advisors LLC increased its position in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 4,553 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Columbia Banking System by 26.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider's stock worth $136,000 after purchasing an additional 1,091 shares during the period. Signaturefd LLC boosted its holdings in shares of Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider's stock worth $151,000 after buying an additional 709 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Columbia Banking System by 14.9% during the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider's stock valued at $176,000 after buying an additional 875 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

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