Columbia Banking System, Inc. (NASDAQ:COLB) Receives Average Rating of "Hold" from Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) have earned a consensus rating of "Hold" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $25.04.

COLB has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Columbia Banking System from $22.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Barclays increased their price target on shares of Columbia Banking System from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their price objective on Columbia Banking System from $23.00 to $27.00 and gave the stock a "market perform" rating in a research report on Friday, July 26th. Stephens raised their price objective on Columbia Banking System from $22.00 to $26.00 and gave the company an "equal weight" rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company increased their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, July 26th.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB traded up $0.18 during midday trading on Monday, reaching $25.18. 1,468,300 shares of the company's stock were exchanged, compared to its average volume of 2,425,553. The firm has a market capitalization of $5.27 billion, a PE ratio of 10.81 and a beta of 0.65. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The company's 50 day simple moving average is $22.82 and its two-hundred day simple moving average is $20.25.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. During the same quarter last year, the firm earned $0.81 EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts anticipate that Columbia Banking System will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.72%. Columbia Banking System's dividend payout ratio is currently 61.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Columbia Banking System in the 2nd quarter worth $33,000. Fifth Third Bancorp grew its holdings in Columbia Banking System by 113.4% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider's stock worth $38,000 after buying an additional 1,047 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider's stock worth $43,000 after acquiring an additional 1,020 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Columbia Banking System by 144.0% in the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in 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 in the last quarter. 92.53% of the stock is 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.