Columbia Banking System (NASDAQ:COLB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Columbia Banking System (NASDAQ:COLB) had its price objective raised by analysts at Keefe, Bruyette & Woods from $30.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.41% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday. Raymond James boosted their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wedbush lifted their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.88.

Columbia Banking System Price Performance

NASDAQ COLB traded down $0.57 on Wednesday, hitting $29.98. 355,740 shares of the company’s stock were exchanged, compared to its average volume of 2,208,427. The firm’s 50-day moving average price is $28.60 and its two-hundred day moving average price is $24.38. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 12.98 and a beta of 0.64. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same quarter last year, the company earned $0.79 earnings per share. On average, research analysts predict that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

A number of institutional investors have recently bought and sold shares of COLB. Tidal Investments LLC raised its stake 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 during the period. Sanctuary Advisors LLC purchased a new position in shares of Columbia Banking System in the 3rd quarter worth $288,000. M&T Bank Corp boosted its holdings in Columbia Banking System by 17.0% in the third quarter. M&T Bank Corp now owns 11,859 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 1,727 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Columbia Banking System by 8.1% during the third quarter. Orion Portfolio Solutions LLC now owns 27,607 shares of the financial services provider’s stock valued at $721,000 after acquiring an additional 2,072 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Columbia Banking System during the third quarter worth about $1,365,000. 92.53% of the stock is currently owned by hedge funds and other 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.