Keefe, Bruyette & Woods Lowers Columbia Banking System (NASDAQ:COLB) Price Target to $33.00

Columbia Banking System (NASDAQ:COLB) had its target price dropped by Keefe, Bruyette & Woods from $34.00 to $33.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 17.23% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Truist Financial raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $33.00 to $35.00 in a research note on Monday, January 6th. UBS Group initiated coverage on Columbia Banking System in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Barclays upped their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and a consensus price target of $29.23.

Columbia Banking System Price Performance

COLB stock opened at $28.15 on Friday. The firm has a market cap of $5.90 billion, a PE ratio of 12.19 and a beta of 0.67. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85. The firm has a 50 day simple moving average of $28.84 and a 200 day simple moving average of $26.64.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. As a group, sell-side analysts expect that Columbia Banking System will post 2.66 earnings per share for the current year.

Institutional Trading of Columbia Banking System

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Columbia Banking System by 812.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,182,655 shares of the financial services provider’s stock worth $63,295,000 after purchasing an additional 2,833,744 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Columbia Banking System by 41.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,969 shares of the financial services provider’s stock worth $423,000 after buying an additional 6,786 shares during the period. Hsbc Holdings PLC grew its stake in Columbia Banking System by 164.6% in the 2nd quarter. Hsbc Holdings PLC now owns 89,301 shares of the financial services provider’s stock valued at $1,763,000 after buying an additional 55,552 shares during the last quarter. Bank of Montreal Can raised its holdings in Columbia Banking System by 114.9% in the 2nd quarter. Bank of Montreal Can now owns 76,298 shares of the financial services provider’s stock worth $1,520,000 after acquiring an additional 40,800 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Columbia Banking System during the 2nd quarter worth $560,000. Institutional investors 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.