Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Recommendation of “Hold” by Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $31.8846.

COLB has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of Columbia Banking System from $34.50 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Stephens upped their price objective on shares of Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Citigroup raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Columbia Banking System in a report on Monday, December 29th.

Columbia Banking System Trading Up 2.7%

NASDAQ COLB opened at $32.07 on Monday. The firm has a market cap of $9.59 billion, a PE ratio of 14.19 and a beta of 0.61. Columbia Banking System has a 1-year low of $19.61 and a 1-year high of $32.23. The stock has a 50-day moving average of $28.94 and a 200-day moving average of $27.02.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The business had revenue of $715.00 million for the quarter, compared to analysts’ expectations of $693.23 million. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities research analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.37 per share. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, November 28th. Columbia Banking System’s dividend payout ratio is currently 65.49%.

Insider Buying and Selling

In related news, Director Steven R. Gardner sold 13,725 shares of Columbia Banking System stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Columbia Banking System

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

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.