Columbia Banking System (NASDAQ:COLB) Given New $33.00 Price Target at Keefe, Bruyette & Woods

Columbia Banking System (NASDAQ:COLB) had its price target dropped by Keefe, Bruyette & Woods from $34.00 to $33.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 17.23% from the stock’s previous close.

Several other analysts have also weighed in on the company. Wedbush lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Truist Financial lifted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Barclays increased their price target on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $33.00 to $35.00 in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $29.23.

Columbia Banking System Price Performance

NASDAQ:COLB opened at $28.15 on Friday. Columbia Banking System has a one year low of $17.08 and a one year high of $32.85. The company has a fifty day moving average price of $28.84 and a 200 day moving average price of $26.64. The stock has a market cap of $5.90 billion, a P/E ratio of 12.19 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. As a group, equities research analysts anticipate that Columbia Banking System will post 2.66 EPS for the current year.

Hedge Funds Weigh In On Columbia Banking System

A number of institutional investors have recently modified their holdings of COLB. GAMMA Investing LLC grew its stake in shares of Columbia Banking System by 54.9% during the third quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 1,290 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Columbia Banking System by 1,507.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after buying an additional 4,553 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Columbia Banking System by 26.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,091 shares during the period. Signaturefd LLC raised its position in shares of Columbia Banking System by 14.0% during the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 709 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Columbia Banking System by 14.9% during the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 875 shares during the period. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Company Profile

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.