Columbia Banking System (NASDAQ:COLB – Get Free Report) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $32.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.95% from the company’s previous close.
Several other research firms also recently weighed in on COLB. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Royal Bank of Canada increased their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Truist Financial lifted their price target 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. Raymond James increased their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, UBS Group started coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.31.
Read Our Latest Analysis on Columbia Banking System
Columbia Banking System Stock Down 1.3 %
Columbia Banking System (NASDAQ:COLB – Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. During the same period in the previous year, the business posted $0.79 earnings per share. Sell-side analysts anticipate that Columbia Banking System will post 2.63 earnings per share for the current year.
Institutional Trading of Columbia Banking System
A number of large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in Columbia Banking System in the third quarter worth about $288,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Columbia Banking System by 1.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock worth $46,346,000 after purchasing an additional 36,867 shares during the period. Pathstone Holdings LLC increased its position in shares of Columbia Banking System by 45.7% during the 3rd quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock valued at $3,156,000 after purchasing an additional 37,941 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Columbia Banking System by 439.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 65,072 shares during the period. Finally, Jane Street Group LLC lifted its position in Columbia Banking System by 219.3% in the third quarter. Jane Street Group LLC now owns 212,889 shares of the financial services provider’s stock worth $5,559,000 after buying an additional 146,219 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.
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.
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