Columbia Banking System Upgraded to Outperform at Raymond James (COLB)
Columbia Banking System (NASDAQ:COLB) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $29.00 price objective on the stock. Raymond James’ price target indicates a potential upside of 14.99% from the stock’s previous close.
Shares of Columbia Banking System (NASDAQ:COLB) traded down 3.41% during mid-day trading on Monday, hitting $25.22. The stock had a trading volume of 327,455 shares. Columbia Banking System has a one year low of $19.56 and a one year high of $28.56. The stock’s 50-day moving average is $27.16 and its 200-day moving average is $25.67. The company has a market cap of $1.293 billion and a P/E ratio of 21.58.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.10. On average, analysts predict that Columbia Banking System will post $1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 19th. Shareholders of record on Wednesday, February 5th will be paid a dividend of 0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, February 3rd. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.11.
A number of other firms have also recently commented on COLB. Analysts at RBC Capital raised their price target on shares of Columbia Banking System from $26.00 to $30.00 in a research note to investors on Monday, January 27th. They now have a “sector perform” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Columbia Banking System from $29.00 to $31.00 in a research note to investors on Monday, January 27th. Finally, analysts at Wunderlich raised their price target on shares of Columbia Banking System from $28.00 to $32.00 in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.50.
Columbia Banking System, Inc is a bank holding company whose wholly owned banking subsidiary, Columbia State Bank (NASDAQ:COLB) also does business under the Bank of Astoria name and conducts full-service commercial banking business in the states of Washington and Oregon.
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