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

Columbia Banking System (NASDAQ:COLB) had its price objective hoisted by investment analysts at Barclays from $24.00 to $25.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential downside of 3.70% from the company’s current price.

COLB has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $27.00 price objective on shares of Columbia Banking System in a report on Wednesday, June 5th. Truist Financial decreased their price target on shares of Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada boosted their price target on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Stephens boosted their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.50.

Columbia Banking System Stock Down 0.0 %

Shares of NASDAQ COLB opened at $25.96 on Friday. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $28.11. The company’s 50-day simple moving average is $24.51 and its 200-day simple moving average is $21.12. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 11.14 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. Columbia Banking System’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Equities research analysts anticipate that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Institutional Trading of Columbia Banking System

Hedge funds and other institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management purchased a new position in Columbia Banking System during the second quarter worth about $33,000. Abich Financial Wealth Management LLC lifted its holdings in Columbia Banking System by 85.1% during the 1st 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. GAMMA Investing LLC boosted its position in Columbia Banking System by 144.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,387 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 4,115 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

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.