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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have earned a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $32.1923.

Several equities analysts have weighed in on COLB shares. Keefe, Bruyette & Woods raised their target price on shares of Columbia Banking System from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. increased their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. UBS Group reissued a “neutral” rating and set a $33.00 price objective on shares of Columbia Banking System in a research note on Wednesday, February 4th. Barclays lifted their price objective on Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Finally, Royal Bank Of Canada upped their target price on Columbia Banking System from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $26.79 on Tuesday. Columbia Banking System has a fifty-two week low of $19.61 and a fifty-two week high of $32.70. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 11.85 and a beta of 0.60. The stock’s fifty day moving average is $29.02 and its two-hundred day moving average is $27.83.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $693.23 million. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, sell-side analysts forecast that Columbia Banking System will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s dividend payout ratio is currently 65.49%.

Insider Transactions at Columbia Banking System

In related news, VP Torran B. Nixon sold 2,240 shares of Columbia Banking System stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $28.85, for a total transaction of $64,624.00. Following the completion of the sale, the vice president owned 98,229 shares in the company, valued at approximately $2,833,906.65. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven R. Gardner sold 13,725 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $29.43, for a total transaction of $403,926.75. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,354 shares of company stock valued at $561,971. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbia Banking System

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

About Columbia Banking System

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.