Columbia Banking System (NASDAQ:COLB) Price Target Increased to $30.00 by Analysts at Truist Financial

Columbia Banking System (NASDAQ:COLB - Get Free Report) had its price target raised by investment analysts at Truist Financial from $28.00 to $30.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's price objective suggests a potential upside of 4.28% from the company's current price.

A number of other research analysts have also recently weighed in on the company. Raymond James lifted their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on Columbia Banking System from $23.00 to $27.00 and gave the company a "market perform" rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Friday. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Finally, Royal Bank of Canada lifted their target price on Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and a consensus price target of $27.12.

Columbia Banking System Stock Up 3.1 %

NASDAQ:COLB traded up $0.87 on Monday, hitting $28.77. The stock had a trading volume of 1,868,078 shares, compared to its average volume of 2,305,061. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 12.35 and a beta of 0.64. The business's 50-day simple moving average is $25.58 and its two-hundred day simple moving average is $22.34. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $28.88.

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

Hedge Funds Weigh In On Columbia Banking System

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider's stock worth $432,041,000 after buying an additional 574,509 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 worth $123,153,000 after buying an additional 386,751 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Columbia Banking System by 0.5% in the 2nd 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 buying an additional 23,963 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider's stock worth $86,468,000 after buying an additional 788,383 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Columbia Banking System by 812.2% in the 2nd 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 period. Hedge funds and other institutional investors 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.