Columbia Banking System (NASDAQ:COLB) Stock Price Expected to Rise, Barclays Analyst Says

Columbia Banking System (NASDAQ:COLB - Get Free Report) had its target price raised by analysts at Barclays from $27.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Barclays's price target indicates a potential upside of 37.22% from the company's previous close.

Several other analysts also recently commented on the company. Wells Fargo & Company increased their target price on Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday. DA Davidson set a $25.00 price objective on Columbia Banking System and gave the stock a "neutral" rating in a report on Thursday. Stephens lowered their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Citigroup reduced their price target on shares of Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $29.62.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $23.32 on Friday. The company has a market capitalization of $4.90 billion, a PE ratio of 9.18 and a beta of 0.53. The business has a fifty day moving average price of $24.16 and a 200-day moving average price of $27.02. Columbia Banking System has a 1-year low of $18.11 and a 1-year high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. The business had revenue of $481.92 million during the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. On average, sell-side analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.68% of the company's stock.

Institutional Trading of Columbia Banking System

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Columbia Banking System during the 4th quarter valued at approximately $65,249,000. JPMorgan Chase & Co. lifted its stake in Columbia Banking System by 158.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,851,217 shares of the financial services provider's stock worth $50,001,000 after purchasing an additional 1,134,544 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Columbia Banking System during the fourth quarter valued at about $22,476,000. Dimensional Fund Advisors LP increased its holdings in shares of Columbia Banking System by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider's stock worth $148,956,000 after purchasing an additional 512,542 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in Columbia Banking System by 25.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,109,817 shares of the financial services provider's stock valued at $56,986,000 after buying an additional 428,776 shares during the last quarter. Institutional investors 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.

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