Citigroup Issues Pessimistic Forecast for Columbia Banking System (NASDAQ:COLB) Stock Price

Columbia Banking System (NASDAQ:COLB) had its price objective decreased by Citigroup from $31.00 to $30.00 in a research note published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

COLB has been the subject of several other reports. Truist Financial boosted their price objective 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. Raymond James increased their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. UBS Group assumed coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price for the company. Royal Bank of Canada increased their price target on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Wedbush lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $27.63 on Monday. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $32.85. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 11.96 and a beta of 0.67. The business’s 50 day moving average price is $28.64 and its 200-day moving average price is $26.88.

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, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. Sell-side analysts predict that Columbia Banking System will post 2.66 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.21%. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors have recently bought and sold shares of COLB. GAMMA Investing LLC lifted its holdings in shares of Columbia Banking System by 54.9% during the 3rd 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 increased its position in Columbia Banking System by 1,507.6% during 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 in the last quarter. Hexagon Capital Partners LLC raised its stake in Columbia Banking System by 26.5% in the third 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 last quarter. Signaturefd LLC raised its stake in Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after buying an additional 709 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Columbia Banking System by 14.9% in the fourth quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 875 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

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.