Columbia Banking System, Inc. (NASDAQ:COLB) Receives $28.19 Consensus PT from Brokerages

Columbia Banking System, Inc. (NASDAQ:COLB) has been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.00.

Several brokerages have issued reports on COLB. Wedbush boosted their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Raymond James upped their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group began coverage on Columbia Banking System in a research note on Tuesday. They set a “neutral” rating and a $32.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on shares of Columbia Banking System from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd.

Institutional Trading of Columbia Banking System

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Columbia Banking System by 812.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after acquiring an additional 2,833,744 shares in the last quarter. Wellington Management Group LLP raised its position in shares of 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 valued at $173,873,000 after purchasing an additional 1,611,563 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of Columbia Banking System in the third quarter worth $26,593,000. Holocene Advisors LP lifted its stake in shares of 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 during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Columbia Banking System by 33.1% during the 3rd 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 during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Trading Down 3.7 %

Shares of COLB opened at $28.63 on Wednesday. The business’s 50-day moving average price is $29.42 and its 200 day moving average price is $25.13. The stock has a market capitalization of $6.00 billion, a P/E ratio of 12.39 and a beta of 0.64. Columbia Banking System has a 1-year low of $17.08 and a 1-year 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 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period last year, the firm posted $0.79 earnings per share. On average, research analysts predict that Columbia Banking System will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

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.