Columbia Banking System, Inc. (NASDAQ:COLB) Receives Average Rating of “Hold” from Analysts

Columbia Banking System, Inc. (NASDAQ:COLB) has been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $29.5833.

Several research firms have recently commented on COLB. Cowen assumed coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price target on Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price target on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup raised their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st.

Hedge Funds Weigh In On Columbia Banking System

A number of hedge funds have recently made changes to their positions in COLB. True Wealth Design LLC raised its stake in shares of Columbia Banking System by 612.8% in the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 864 shares in the last quarter. West Oak Capital LLC purchased a new stake in Columbia Banking System during the 3rd quarter worth about $28,000. Quent Capital LLC acquired a new stake in Columbia Banking System in the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. raised its position in Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. Finally, First Horizon Corp purchased a new position in shares of Columbia Banking System in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Down 0.0%

Shares of COLB opened at $28.85 on Friday. Columbia Banking System has a 12-month low of $19.61 and a 12-month high of $29.61. The firm has a 50-day moving average price of $27.08 and a 200 day moving average price of $25.72. The firm has a market capitalization of $8.63 billion, a P/E ratio of 13.00 and a beta of 0.62.

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

Columbia Banking System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.37 dividend. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.1%. Columbia Banking System’s payout ratio is presently 66.67%.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.