JPMorgan Chase & Co. Boosts Columbia Banking System (NASDAQ:COLB) Price Target to $33.00

Columbia Banking System (NASDAQ:COLB) had its price objective upped by analysts at JPMorgan Chase & Co. from $31.00 to $33.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.99% from the stock’s current price.

Several other analysts have also commented on the stock. Barclays cut their target price on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. TD Cowen started coverage on Columbia Banking System in a report on Thursday, September 25th. They issued a “hold” rating and a $28.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Banking System in a report on Monday, December 8th. Finally, Citigroup increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and an average target price of $29.50.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $28.95 on Tuesday. Columbia Banking System has a 12-month low of $19.61 and a 12-month high of $29.61. The stock has a market capitalization of $8.66 billion, a PE ratio of 13.04 and a beta of 0.62. The firm has a 50 day simple moving average of $26.94 and a 200-day simple moving average of $25.64.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. The company had revenue of $348.47 million for the quarter. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%. On average, analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Columbia Banking System by 41.3% during the 3rd quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock worth $768,375,000 after purchasing an additional 8,730,937 shares during the last quarter. Wellington Management Group LLP increased its position in Columbia Banking System by 135.2% during the third quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock worth $354,754,000 after buying an additional 7,921,303 shares during the last quarter. State Street Corp raised its holdings in Columbia Banking System by 32.5% during the third quarter. State Street Corp now owns 13,407,671 shares of the financial services provider’s stock valued at $345,113,000 after buying an additional 3,290,560 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Columbia Banking System by 68.1% during the third quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock valued at $337,611,000 after buying an additional 5,313,883 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Columbia Banking System by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 12,742,629 shares of the financial services provider’s stock worth $317,802,000 after buying an additional 116,795 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

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.