Brokerages Set Columbia Banking System, Inc. (NASDAQ:COLB) PT at $30.38

Columbia Banking System, Inc. (NASDAQ:COLB) has earned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.38.

A number of research firms recently issued reports on COLB. Keefe, Bruyette & Woods lowered their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Citigroup lowered their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Barclays boosted their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $33.00 to $35.00 in a report on Monday, January 6th. Finally, UBS Group started coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective on the stock.

Columbia Banking System Trading Up 0.2 %

COLB stock opened at $26.73 on Monday. The company has a market capitalization of $5.60 billion, a P/E ratio of 10.52 and a beta of 0.66. The business has a 50 day simple moving average of $27.51 and a 200-day simple moving average of $27.43. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Research analysts predict that Columbia Banking System will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Friday, February 28th. Columbia Banking System’s dividend payout ratio (DPR) is 56.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COLB. Allworth Financial LP boosted its stake in shares of Columbia Banking System by 0.3% during the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock worth $4,583,000 after acquiring an additional 458 shares in the last quarter. Tidal Investments LLC boosted its position in Columbia Banking System by 1.1% during the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 464 shares in the last quarter. Arizona State Retirement System boosted its position in Columbia Banking System by 0.8% during the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock worth $1,641,000 after purchasing an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Columbia Banking System by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock valued at $1,025,000 after purchasing an additional 544 shares during the last quarter. Finally, Sippican Capital Advisors increased its position in shares of Columbia Banking System by 0.5% in the third quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock valued at $2,903,000 after buying an additional 552 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

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.