Columbia Banking System (NASDAQ:COLB) PT Lowered to $22.00 at JPMorgan Chase & Co.

Columbia Banking System (NASDAQ:COLB) had its target price decreased by JPMorgan Chase & Co. from $23.00 to $22.00 in a report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

COLB has been the topic of a number of other research reports. Piper Sandler reiterated an overweight rating and issued a $27.00 target price on shares of Columbia Banking System in a research report on Wednesday, June 5th. Wedbush restated a neutral rating and issued a $20.00 price objective on shares of Columbia Banking System in a research report on Friday, April 26th. Citigroup decreased 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 report on Wednesday, March 13th. Truist Financial decreased their price objective on shares of Columbia Banking System from $22.00 to $20.00 and set a hold rating on the stock in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Columbia Banking System from $25.00 to $23.00 and set a market perform rating on the stock in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $22.04.

Columbia Banking System Stock Up 4.2 %

Shares of NASDAQ:COLB opened at $19.89 on Thursday. The stock has a market cap of $4.16 billion, a PE ratio of 8.54 and a beta of 0.67. The company’s fifty day moving average is $19.25 and its 200 day moving average is $20.44. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $28.11.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $473.72 million for the quarter, compared to analysts’ expectations of $480.39 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. Sell-side analysts anticipate that Columbia Banking System will post 2.44 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.24%. The ex-dividend date was Thursday, May 23rd. Columbia Banking System’s payout ratio is currently 61.80%.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp lifted its stake in shares of Columbia Banking System by 113.4% in the first quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,047 shares in the last quarter. First Pacific Financial bought a new position in shares of Columbia Banking System in the fourth quarter worth approximately $40,000. Headlands Technologies LLC bought a new position in shares of Columbia Banking System in the fourth quarter worth approximately $42,000. Abich Financial Wealth Management LLC lifted its stake in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,020 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Columbia Banking System in the fourth quarter worth approximately $48,000. 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.