Columbia Banking System, Inc. (NASDAQ:COLB – Get Free Report) has been given an average recommendation of “Hold” by the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $32.8077.
A number of research firms have recently commented on COLB. Barclays reduced their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. Wells Fargo & Company raised their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday. Wall Street Zen cut Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Columbia Banking System in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st.
View Our Latest Report on COLB
Insider Activity at Columbia Banking System
Institutional Trading of Columbia Banking System
Several large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after buying an additional 794 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $31,000 after buying an additional 949 shares in the last quarter. Horizon Investments LLC grew its holdings in Columbia Banking System by 168.8% during the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 773 shares during the last quarter. Rossby Financial LCC bought a new stake in Columbia Banking System during the 4th quarter worth about $36,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Columbia Banking System in the 4th quarter valued at about $43,000. Institutional investors own 92.53% of the company’s stock.
Columbia Banking System Trading Down 2.7%
Shares of NASDAQ COLB opened at $31.26 on Thursday. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 12.45 and a beta of 0.62. Columbia Banking System has a one year low of $22.77 and a one year high of $32.77. The business has a fifty day simple moving average of $30.27 and a 200 day simple moving average of $29.37.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 earnings per share. On average, research analysts anticipate that Columbia Banking System will post 3.05 earnings per share for the current fiscal year.
Columbia Banking System Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.
Columbia Banking System Company Profile
Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
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