Columbia Banking System, Inc. (NASDAQ:COLB) Receives $25.81 Average Target Price from Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.81.

COLB has been the subject of several analyst reports. Barclays increased their price objective on Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their price target on Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Stephens raised their price objective on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Raymond James upped their target price on shares of 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, JPMorgan Chase & Co. dropped their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th.

Institutional Trading of Columbia Banking System

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after acquiring an additional 574,509 shares during the last quarter. American Century Companies Inc. raised its holdings in Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock worth $123,153,000 after purchasing an additional 386,751 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Columbia Banking System by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock worth $93,851,000 after buying an additional 23,963 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of Columbia Banking System by 21.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after buying an additional 788,383 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after buying an additional 2,833,744 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Stock Up 4.4 %

Shares of COLB opened at $28.27 on Tuesday. The stock has a fifty day simple moving average of $25.41 and a two-hundred day simple moving average of $22.15. The company has a market capitalization of $5.92 billion, a PE ratio of 12.13 and a beta of 0.64. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $28.28.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. During the same quarter in the prior year, the firm earned $0.79 EPS. As a group, equities analysts anticipate that Columbia Banking System will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a yield of 5.09%. Columbia Banking System’s payout ratio is 61.80%.

About Columbia Banking System

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.