Columbia Banking System, Inc. (NASDAQ:COLB) Stock Has Average Price Target of $33.23

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $33.23.

COLB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Columbia Banking System in a report on Tuesday. They issued a “hold” rating and a $32.00 target price on the stock. Zacks Research raised shares of Columbia Banking System from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Barclays lifted their price target on Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Royal Bank Of Canada reduced their price objective on Columbia Banking System from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. Finally, Fundamental Research set a $35.00 price objective on Columbia Banking System in a research note on Wednesday, July 1st.

Hedge Funds Weigh In On Columbia Banking System

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Columbia Banking System during the 2nd quarter valued at $880,443,000. Bank of New York Mellon Corp purchased a new position in Columbia Banking System during the second quarter worth $120,867,000. The Manufacturers Life Insurance Company bought a new position in Columbia Banking System during the second quarter valued at $68,906,000. Pzena Investment Management LLC bought a new position in Columbia Banking System during the second quarter valued at $68,245,000. Finally, Bank of America Corp DE purchased a new stake in shares of Columbia Banking System in the second quarter valued at $45,104,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.7%

COLB traded down $0.19 during trading hours on Friday, hitting $28.44. The company’s stock had a trading volume of 3,695,829 shares, compared to its average volume of 2,780,353. The business’s 50-day moving average price is $29.94 and its 200-day moving average price is $30.17. Columbia Banking System has a 12 month low of $24.07 and a 12 month high of $33.67. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.71 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $687.40 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, analysts forecast that Columbia Banking System will post 3.04 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 28th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

Columbia Banking System Company Profile

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.