Columbia Banking System (NASDAQ:COLB) Rating Increased to Hold at StockNews.com

Columbia Banking System (NASDAQ:COLB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Other equities research analysts also recently issued reports about the company. Truist Financial cut their target price on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective on shares of Columbia Banking System in a report on Wednesday, June 5th. Wedbush raised Columbia Banking System from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $31.00 in a report on Tuesday. Royal Bank of Canada upped their price target on shares of Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Stephens lifted their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.42.

Columbia Banking System Trading Up 1.3 %

COLB opened at $25.97 on Wednesday. The business’s 50 day moving average is $24.45 and its 200-day moving average is $21.06. The stock has a market cap of $5.44 billion, a PE ratio of 11.15 and a beta of 0.64. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts forecast that Columbia Banking System will post 2.55 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Columbia Banking System by 812.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock valued at $63,295,000 after buying an additional 2,833,744 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Columbia Banking System by 3,245.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock worth $23,068,000 after acquiring an additional 838,762 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Columbia Banking System by 21.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock worth $86,468,000 after purchasing an additional 788,383 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Columbia Banking System by 16.2% during the 4th quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock valued at $122,158,000 after purchasing an additional 637,212 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Columbia Banking System by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after purchasing an additional 574,509 shares during the last quarter. 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.