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

Columbia Banking System, Inc. (NASDAQ:COLB) has been assigned an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $40.17.

COLB has been the topic of several recent research reports. Zacks Investment Research cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Monday, October 11th. Royal Bank of Canada lowered their target price on shares of Columbia Banking System from $42.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 13th. Stephens lowered their price target on shares of Columbia Banking System from $40.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 13th. DA Davidson raised shares of Columbia Banking System from a “neutral” rating to a “buy” rating and boosted their price target for the company from $39.00 to $41.00 in a research report on Wednesday, October 13th. Finally, Raymond James lowered their price target on shares of Columbia Banking System from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 1st.

Columbia Banking System stock opened at $32.69 on Tuesday. The company’s fifty day moving average price is $35.72 and its 200 day moving average price is $37.62. Columbia Banking System has a 1 year low of $31.41 and a 1 year high of $50.68. The stock has a market capitalization of $2.57 billion, a P/E ratio of 10.68 and a beta of 0.79.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Wednesday, October 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Columbia Banking System had a net margin of 35.50% and a return on equity of 9.41%. The company had revenue of $132.54 million for the quarter, compared to analysts’ expectations of $150.88 million. During the same quarter in the previous year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Columbia Banking System will post 2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, October 11th. This represents a $1.20 annualized dividend and a yield of 3.67%. Columbia Banking System’s dividend payout ratio (DPR) is currently 39.22%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Columbia Banking System by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,331,325 shares of the financial services provider’s stock valued at $89,896,000 after buying an additional 187,200 shares during the period. AlphaCrest Capital Management LLC raised its holdings in Columbia Banking System by 50.3% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 26,248 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 8,789 shares during the period. Prudential Financial Inc. raised its holdings in Columbia Banking System by 12.5% in the 2nd quarter. Prudential Financial Inc. now owns 99,639 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 11,067 shares during the period. Squarepoint Ops LLC increased its stake in Columbia Banking System by 17.5% during the second quarter. Squarepoint Ops LLC now owns 30,132 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 4,490 shares during the period. Finally, Tudor Investment Corp Et Al increased its stake in Columbia Banking System by 264.8% during the second quarter. Tudor Investment Corp Et Al now owns 106,674 shares of the financial services provider’s stock worth $4,113,000 after purchasing an additional 77,433 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It specializes in personal, business, and wealth management. It offers checking and savings accounts; debit and credit cards; digital banking; personal loans; home loans; foreign currency; professional banking; treasury management; merchant card services; international banking; financial services; private banking; and trust and investment services.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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