Columbia Banking System (NASDAQ:COLB – Free Report) had its price objective lowered by TD Cowen from $34.00 to $32.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.
Several other analysts have also recently commented on the stock. Weiss Ratings cut shares of Columbia Banking System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Keefe, Bruyette & Woods boosted their target price on Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Barclays cut their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. JPMorgan Chase & Co. cut their target price on Columbia Banking System from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. Finally, Citigroup lowered their price target on Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.58.
Check Out Our Latest Analysis on Columbia Banking System
Columbia Banking System Stock Down 0.3%
Columbia Banking System (NASDAQ:COLB – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $677.00 million for the quarter, compared to analyst estimates of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same period in the previous year, the business earned $0.76 earnings per share. On average, equities analysts anticipate that Columbia Banking System will post 3.03 earnings per share for the current year.
Columbia Banking System Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.
Institutional Investors Weigh In On Columbia Banking System
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quad Cities Investment Group LLC lifted its stake in shares of Columbia Banking System by 0.7% in the 2nd quarter. Quad Cities Investment Group LLC now owns 45,802 shares of the financial services provider’s stock valued at $1,468,000 after purchasing an additional 331 shares during the period. Hilton Head Capital Partners LLC grew its stake in shares of Columbia Banking System by 25.8% in the 1st quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock valued at $53,000 after buying an additional 399 shares during the period. State of Michigan Retirement System grew its stake in shares of Columbia Banking System by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock valued at $1,949,000 after buying an additional 400 shares during the period. Kera Capital Partners Inc. increased its position in Columbia Banking System by 5.7% in the 1st quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock valued at $217,000 after buying an additional 425 shares in the last quarter. Finally, Henshaw Capital LLC increased its position in Columbia Banking System by 1.4% in the 1st quarter. Henshaw Capital LLC now owns 34,805 shares of the financial services provider’s stock valued at $955,000 after buying an additional 477 shares in the last quarter. 92.53% of the stock is owned by institutional investors.
About Columbia Banking System
Columbia Banking System, Inc (NASDAQ: COLB) is a bank holding company headquartered in Tacoma, Washington. Through its subsidiary, Umpqua Bank, the company provides a range of banking and financial services to individuals, families, businesses and institutions.
Umpqua Bank’s offerings include deposit accounts, consumer and commercial lending, real estate finance, treasury management, cash management, investment services and other business banking solutions. The bank serves small and middle-market companies as well as retail customers through branches, digital banking platforms and relationship-based financial services.
Columbia Banking System traces its history to the formation of Columbia Bank in Washington in 1993.
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