Columbia Banking System (NASDAQ:COLB) Price Target Raised to $25.00

Columbia Banking System (NASDAQ:COLB) had its price target upped by Barclays from $24.00 to $25.00 in a report issued on Friday, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts have also issued reports on COLB. JPMorgan Chase & Co. raised their target price on Columbia Banking System from $22.00 to $29.00 and gave the stock a neutral rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $23.00 to $27.00 and gave the company a market perform rating in a report on Friday, July 26th. Piper Sandler restated an overweight rating and issued a $27.00 price target on shares of Columbia Banking System in a research report on Wednesday, June 5th. Stephens increased 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 report on Friday, July 26th. Finally, Truist Financial lowered their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a hold rating for the company in a research note on Friday, September 20th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $25.50.

Columbia Banking System Stock Up 0.6 %

Shares of COLB stock opened at $26.11 on Friday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 11.21 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. The stock’s fifty day simple moving average is $24.56 and its 200 day simple moving average is $21.19.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is 61.80%.

Institutional Trading of Columbia Banking System

Several hedge funds have recently bought and sold shares of COLB. Ariadne Wealth Management LP bought a new position in shares of Columbia Banking System in the second quarter valued at $252,000. Cetera Investment Advisers lifted its position in Columbia Banking System by 135.8% in the 2nd quarter. Cetera Investment Advisers now owns 111,009 shares of the financial services provider’s stock valued at $2,208,000 after acquiring an additional 63,932 shares in the last quarter. Creative Planning boosted its stake in Columbia Banking System by 39.2% during the 2nd quarter. Creative Planning now owns 42,063 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 11,836 shares during the last quarter. Algert Global LLC increased its holdings in Columbia Banking System by 6.2% during the 2nd quarter. Algert Global LLC now owns 321,874 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 18,708 shares in the last quarter. Finally, Scientech Research LLC bought a new stake in Columbia Banking System during the 2nd quarter worth approximately $307,000. Institutional investors and hedge funds 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.