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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received an average recommendation of “Hold” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.38.

COLB has been the subject of several research analyst reports. Citigroup cut their price target on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Truist Financial raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. UBS Group assumed coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Stephens decreased their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th.

Columbia Banking System Stock Performance

Shares of NASDAQ:COLB opened at $28.42 on Thursday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 11.19 and a beta of 0.66. The firm has a fifty day moving average price of $28.28 and a 200 day moving average price of $27.05. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, research analysts predict that Columbia Banking System will post 2.74 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.07%. Columbia Banking System’s payout ratio is 56.69%.

Hedge Funds Weigh In On Columbia Banking System

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in Columbia Banking System by 62.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 780 shares during the period. Fisher Asset Management LLC increased its stake in Columbia Banking System by 10.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,787,006 shares of the financial services provider’s stock worth $48,267,000 after buying an additional 172,066 shares during the period. Parkside Financial Bank & Trust increased its stake in Columbia Banking System by 36.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after buying an additional 801 shares during the period. Proficio Capital Partners LLC bought a new stake in Columbia Banking System during the 4th quarter valued at about $296,000. Finally, Los Angeles Capital Management LLC boosted its position in Columbia Banking System by 38.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 225,058 shares of the financial services provider’s stock valued at $6,079,000 after buying an additional 63,030 shares during the period. Hedge funds and other 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.