Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Recommendation of “Hold” by Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received an average recommendation of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.00.

COLB has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Truist Financial lifted their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Raymond James increased their price target 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. Finally, Barclays lifted their price objective 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.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in Columbia Banking System during the third quarter valued at about $288,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after purchasing an additional 36,867 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after buying an additional 37,941 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Columbia Banking System by 439.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 65,072 shares during the period. Finally, Jane Street Group LLC grew its stake in Columbia Banking System by 219.3% in the 3rd quarter. Jane Street Group LLC now owns 212,889 shares of the financial services provider’s stock valued at $5,559,000 after buying an additional 146,219 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $27.11 on Friday. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $32.85. The business’s 50 day simple moving average is $29.39 and its two-hundred day simple moving average is $25.84. The firm has a market cap of $5.68 billion, a P/E ratio of 11.74 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same quarter last year, the firm posted $0.79 EPS. On average, equities analysts forecast that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s dividend payout ratio is currently 62.34%.

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.