Columbia Banking System (NASDAQ:COLB) Price Target Raised to $29.00 at Barclays

Columbia Banking System (NASDAQ:COLB - Free Report) had its target price raised by Barclays from $25.00 to $29.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider's stock.

Several other brokerages also recently issued reports on COLB. Stephens increased their price target on Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, July 26th. Truist Financial lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday. Royal Bank of Canada raised 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 report on Friday. Finally, StockNews.com raised shares of Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.96.

Columbia Banking System Trading Down 1.3 %

Shares of NASDAQ:COLB traded down $0.37 during mid-day trading on Friday, reaching $27.90. The stock had a trading volume of 1,833,590 shares, compared to its average volume of 2,307,170. The firm has a 50 day simple moving average of $25.41 and a two-hundred day simple moving average of $22.15. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $28.62. The firm has a market cap of $5.84 billion, a PE ratio of 11.97 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company had revenue of $765.06 million for the quarter, compared to analysts' expectations of $478.80 million. During the same period last year, the firm posted $0.79 earnings per share. On average, equities analysts anticipate that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date was Friday, August 23rd. Columbia Banking System's dividend payout ratio (DPR) is 61.80%.

Institutional Investors Weigh In On Columbia Banking System

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock worth $432,041,000 after acquiring an additional 574,509 shares in the last quarter. American Century Companies Inc. lifted its stake in Columbia Banking System by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider's stock valued at $123,153,000 after purchasing an additional 386,751 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Columbia Banking System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider's stock worth $93,851,000 after purchasing an additional 23,963 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Columbia Banking System by 21.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider's stock worth $86,468,000 after purchasing an additional 788,383 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider's stock worth $63,295,000 after buying an additional 2,833,744 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

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.