Analysts Set Columbia Banking System, Inc. (NASDAQ:COLB) Target Price at $22.04

Shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Free Report) have been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.04.

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price target on shares of Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Wells Fargo & Company lowered their price target on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price target on shares of Columbia Banking System in a research note on Wednesday, June 5th. Citigroup lowered their price objective on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Finally, DA Davidson lowered their price objective on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th.

Get Our Latest Report on Columbia Banking System

Columbia Banking System Trading Down 0.3 %

COLB opened at $18.43 on Wednesday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 7.91 and a beta of 0.67. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The firm’s fifty day simple moving average is $19.11 and its 200 day simple moving average is $20.64.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The business had revenue of $473.72 million for the quarter, compared to analysts’ expectations of $480.39 million. During the same period in the previous year, the firm posted $0.46 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that Columbia Banking System will post 2.44 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were paid a $0.36 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 7.81%. Columbia Banking System’s dividend payout ratio (DPR) is currently 61.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Channing Capital Management LLC acquired a new position in Columbia Banking System in the 4th quarter valued at about $3,955,000. ARGA Investment Management LP acquired a new position in Columbia Banking System in the 4th quarter valued at about $2,025,000. Kennedy Capital Management LLC boosted its holdings in Columbia Banking System by 1,633.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock valued at $25,936,000 after purchasing an additional 1,203,933 shares during the period. Norges Bank bought a new stake in Columbia Banking System in the 4th quarter valued at about $63,152,000. Finally, Franklin Resources Inc. boosted its holdings in Columbia Banking System by 9.9% in the 4th quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider’s stock valued at $207,809,000 after purchasing an additional 700,643 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

(Get Free Report

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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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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