Columbia Banking System, Inc. (NASDAQ:COLB) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.60.

Several equities analysts have recently commented on COLB shares. Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies upgraded shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $43.00 to $46.00 in a research report on Monday, July 31st. DA Davidson restated a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $42.00 target price on shares of Columbia Banking System in a research report on Friday, September 8th.

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Several institutional investors have recently made changes to their positions in COLB. Flinton Capital Management LLC grew its holdings in shares of Columbia Banking System by 98.1% during the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,648 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Columbia Banking System by 2.1% during the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares during the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of Columbia Banking System during the 2nd quarter valued at approximately $188,000. Riverhead Capital Management LLC grew its holdings in shares of Columbia Banking System by 102.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 2,662 shares during the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Columbia Banking System during the 2nd quarter valued at approximately $230,000. 95.68% of the stock is currently owned by institutional investors.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $126.00 million during the quarter, compared to analysts’ expectations of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Monday, October 30th. Columbia Banking System’s dividend payout ratio (DPR) is presently 40.00%.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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