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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the firm, MarketBeat reports. Twelve research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.3846.

A number of research analysts have recently issued reports on COLB shares. Piper Sandler set a $33.00 price target on shares of Columbia Banking System in a research report on Monday, November 3rd. Royal Bank Of Canada lifted their target price on shares of 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. Barclays cut their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Stephens raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price objective on Columbia Banking System from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th.

Columbia Banking System Trading Up 3.2%

NASDAQ COLB opened at $28.42 on Wednesday. The firm has a market capitalization of $8.50 billion, a PE ratio of 11.28 and a beta of 0.67. The business’s 50-day moving average price is $26.18 and its two-hundred day moving average price is $25.18. Columbia Banking System has a 12 month low of $19.61 and a 12 month high of $32.24.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The company had revenue of $348.47 million during the quarter. As a group, 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.2%. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, November 28th. Columbia Banking System’s payout ratio is presently 66.67%.

Institutional Trading of Columbia Banking System

Large investors have recently modified their holdings of the stock. True Wealth Design LLC lifted its position 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 acquiring an additional 864 shares during the period. West Oak Capital LLC bought a new stake in Columbia Banking System in the third quarter valued at $28,000. Quent Capital LLC bought a new stake in Columbia Banking System in the third quarter valued at $29,000. Geneos Wealth Management Inc. raised 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 valued at $30,000 after purchasing an additional 794 shares during the period. Finally, First Horizon Corp bought a new position in shares of Columbia Banking System during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

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.