Columbia Banking System (NASDAQ:COLB) Price Target Cut to $30.00 by Analysts at JPMorgan Chase & Co.

Columbia Banking System (NASDAQ:COLB - Get Free Report) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $32.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 10.29% from the stock's previous close.

A number of other equities analysts have also recently weighed in on COLB. Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on Columbia Banking System from $30.00 to $34.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Barclays increased 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 research note on Thursday, December 5th. UBS Group assumed coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 target price for the company. Finally, Wells Fargo & Company raised shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $33.00 to $35.00 in a research note on Monday. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $29.31.

Columbia Banking System Price Performance

COLB traded down $0.21 on Tuesday, reaching $27.20. 1,626,873 shares of the stock were exchanged, compared to its average volume of 1,213,068. The company's 50-day moving average price is $29.37 and its 200 day moving average price is $25.96. The firm has a market capitalization of $5.70 billion, a PE ratio of 11.77 and a beta of 0.67. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The firm had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same period last year, the company posted $0.79 EPS. As a group, equities analysts forecast that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COLB. Allspring Global Investments Holdings LLC grew 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of Columbia Banking System by 54.9% during the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider's stock worth $95,000 after buying an additional 1,290 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Columbia Banking System by 1,507.6% in the third quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 4,553 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings 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 acquiring an additional 1,091 shares in the last quarter. Finally, Signaturefd LLC grew its position in Columbia Banking System by 14.0% during the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider's stock worth $151,000 after acquiring an additional 709 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

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.