Columbia Banking System, Inc. (NASDAQ:COLB) Given Consensus Rating of “Hold” by Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned an average rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.65.

A number of research firms recently issued reports on COLB. JPMorgan Chase & Co. raised their target price on shares of Columbia Banking System from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Barclays raised their price objective on shares of Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Truist Financial decreased their price target on 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. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Columbia Banking System in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada raised their price target on shares of Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Friday, July 26th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC bought a new stake in Columbia Banking System during the fourth quarter worth about $963,000. Orion Portfolio Solutions LLC raised its stake in Columbia Banking System by 10.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 3,211 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Columbia Banking System by 11.3% during the 4th quarter. United Services Automobile Association now owns 17,093 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 1,734 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Columbia Banking System by 75.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 5,752 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Columbia Banking System by 1.6% during the 4th quarter. TD Asset Management Inc now owns 294,675 shares of the financial services provider’s stock worth $7,862,000 after buying an additional 4,661 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Down 3.2 %

COLB stock opened at $25.28 on Friday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 10.85 and a beta of 0.64. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The firm has a 50 day moving average of $24.58 and a two-hundred day moving average of $21.24.

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

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

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.