Columbia Banking System (NASDAQ:COLB) Price Target Cut to $31.00 by Analysts at Stephens

Columbia Banking System (NASDAQ:COLB) had its price target decreased by equities research analysts at Stephens from $33.00 to $31.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 10.64% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James boosted their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods lowered their price objective on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Friday. Citigroup lowered their price objective on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday. Wedbush upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their price target on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and an average target price of $30.38.

Columbia Banking System Trading Down 0.4 %

Shares of NASDAQ:COLB traded down $0.11 during midday trading on Tuesday, reaching $28.02. The company had a trading volume of 155,013 shares, compared to its average volume of 1,429,670. The company’s 50 day moving average price is $28.73 and its 200 day moving average price is $26.83. The stock has a market cap of $5.87 billion, a P/E ratio of 12.13 and a beta of 0.67. Columbia Banking System has a 52-week low of $17.08 and a 52-week 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 16.15% and a return on equity of 10.13%. Research analysts forecast that Columbia Banking System will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COLB. Wellington Management Group LLP boosted its stake in Columbia Banking System by 31.9% in the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after buying an additional 1,611,563 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in Columbia Banking System in the third quarter worth approximately $26,593,000. Holocene Advisors LP boosted its stake in Columbia Banking System by 1,001.8% in the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider’s stock worth $25,126,000 after buying an additional 874,986 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Columbia Banking System by 33.1% in the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after buying an additional 562,467 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its stake in Columbia Banking System by 98.6% in the third quarter. Stieven Capital Advisors L.P. now owns 944,332 shares of the financial services provider’s stock worth $24,657,000 after buying an additional 468,832 shares in the last quarter. 92.53% of the stock is currently 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.