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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have earned a consensus rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.7308.

Several research firms have commented on COLB. Weiss Ratings upgraded shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Piper Sandler upped their target price on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. Stephens upped their price target on shares of Columbia Banking System from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, UBS Group began coverage on shares of Columbia Banking System in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 price target for the company.

Insider Buying and Selling at Columbia Banking System

In other news, VP Torran B. Nixon sold 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.85, for a total value of $64,624.00. Following the completion of the sale, the vice president directly owned 98,229 shares of the company’s stock, valued at approximately $2,833,906.65. This represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 5,629 shares of company stock valued at $158,044. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Columbia Banking System

A number of institutional investors have recently made changes to their positions in COLB. AQR Capital Management LLC lifted its stake in shares of Columbia Banking System by 35.4% in the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock worth $1,402,000 after acquiring an additional 14,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Columbia Banking System by 23.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after acquiring an additional 15,845 shares during the period. Millennium Management LLC lifted its stake in shares of Columbia Banking System by 572.7% in the 1st quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock worth $12,089,000 after acquiring an additional 412,674 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Columbia Banking System by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock worth $12,290,000 after acquiring an additional 108,994 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Columbia Banking System by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider’s stock worth $22,128,000 after acquiring an additional 16,165 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System Trading Down 0.1%

NASDAQ COLB opened at $29.56 on Friday. Columbia Banking System has a 52 week low of $21.91 and a 52 week high of $32.70. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 11.78 and a beta of 0.63. The company has a 50-day moving average price of $28.31 and a two-hundred day moving average price of $28.27.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $677.34 million. During the same quarter in the prior year, the firm earned $0.67 EPS. Columbia Banking System’s quarterly revenue was up 37.9% on a year-over-year basis. As a group, equities research analysts expect that Columbia Banking System will post 3.08 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, February 27th. Columbia Banking System’s dividend payout ratio 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.