Columbia Banking System (NASDAQ:COLB - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a $35.00 price target on the financial services provider's stock, up from their previous price target of $33.00. Wells Fargo & Company's price target points to a potential upside of 27.69% from the stock's current price.
A number of other brokerages have also issued reports on COLB. Wedbush increased their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. StockNews.com raised shares of Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Barclays raised their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a report on Monday, October 28th. Finally, UBS Group assumed coverage on Columbia Banking System in a research note on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price objective for the company. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.15.
Check Out Our Latest Analysis on COLB
Columbia Banking System Stock Up 1.1 %
Columbia Banking System stock traded up $0.30 during mid-day trading on Monday, hitting $27.41. 1,566,762 shares of the company's stock traded hands, compared to its average volume of 1,075,054. Columbia Banking System has a one year low of $17.08 and a one year high of $32.85. The firm has a 50 day moving average price of $29.37 and a 200 day moving average price of $25.96. The company has a market cap of $5.74 billion, a PE ratio of 11.87 and a beta of 0.67.
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 for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, analysts expect that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in COLB. Dimensional Fund Advisors LP grew its stake in Columbia Banking System by 812.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider's stock valued at $63,295,000 after purchasing an additional 2,833,744 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Columbia Banking System by 31.9% during the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider's stock valued at $173,873,000 after purchasing an additional 1,611,563 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new stake in shares of Columbia Banking System in the 3rd quarter valued at $26,593,000. Holocene Advisors LP boosted its holdings in 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 worth $25,126,000 after purchasing an additional 874,986 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Columbia Banking System by 33.1% during the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider's stock worth $59,099,000 after buying an additional 562,467 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.
About Columbia Banking System
(
Get Free Report)
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.
Featured Stories
Before you consider Columbia Banking System, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Columbia Banking System wasn't on the list.
While Columbia Banking System currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
