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

Columbia Banking System, Inc. (NASDAQ:COLB) has received an average rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.1250.

Several analysts have issued reports on COLB shares. JPMorgan Chase & Co. dropped their target price on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. UBS Group started coverage on Columbia Banking System in a research report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. Barclays dropped their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 7th. Citigroup increased their target price on Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings raised Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st.

Insider Transactions at Columbia Banking System

In other news, CMO Devine David Moore sold 3,872 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Columbia Banking System

Institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its position in shares of Columbia Banking System by 6.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 348 shares during the period. Hilton Head Capital Partners LLC increased its position in shares of Columbia Banking System by 25.8% during the first quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 399 shares during the period. State of Michigan Retirement System increased its position in shares of Columbia Banking System by 0.6% during the first quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock worth $1,949,000 after acquiring an additional 400 shares during the period. Wedbush Securities Inc. increased its position in shares of Columbia Banking System by 4.5% during the third quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 423 shares during the period. Finally, Kera Capital Partners Inc. increased its position in shares of Columbia Banking System by 5.7% during the first quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $30.55 on Friday. The stock has a market capitalization of $8.84 billion, a PE ratio of 12.17 and a beta of 0.63. The stock’s fifty day simple moving average is $29.61 and its two-hundred day simple moving average is $29.08. Columbia Banking System has a 12-month low of $22.12 and a 12-month high of $32.70.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The business’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. On average, equities analysts predict that Columbia Banking System will post 3.08 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, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is 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.