Columbia Banking System (NASDAQ:COLB) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Columbia Banking System (NASDAQ:COLB) in a note issued to investors on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler dropped their target price on shares of Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on shares of Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Raymond James set a $27.00 price objective on Columbia Banking System and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Barclays upped their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average price target of $29.85.

Columbia Banking System Trading Down 0.2 %

Columbia Banking System stock opened at $23.64 on Tuesday. Columbia Banking System has a 1-year low of $18.11 and a 1-year high of $32.85. The firm has a 50-day moving average of $23.60 and a 200-day moving average of $26.83. The firm has a market cap of $4.97 billion, a P/E ratio of 9.31 and a beta of 0.59.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $481.92 million during the quarter, compared to analysts’ expectations of $482.86 million. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. Research analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Insider Activity at Columbia Banking System

In other news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the transaction, the vice president now owns 104,869 shares in the company, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbia Banking System

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new stake in Columbia Banking System in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in shares of Columbia Banking System during the 4th quarter valued at approximately $32,000. Kapitalo Investimentos Ltda bought a new position in shares of Columbia Banking System during the 4th quarter valued at approximately $42,000. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System in the 4th quarter worth approximately $42,000. Finally, UMB Bank n.a. raised its stake in Columbia Banking System by 141.3% during the 1st quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 958 shares during the period. 92.53% of the stock is owned by 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.