Columbia Banking System (NASDAQ:COLB) Receives Hold (C+) Rating from Weiss Ratings

Weiss Ratings reaffirmed their hold (c+) rating on shares of Columbia Banking System (NASDAQ:COLB) in a research note released on Tuesday morning,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. Stephens upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Monday, August 4th. Raymond James Financial raised shares of Columbia Banking System from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $27.00 to $31.00 in a research note on Monday, September 15th. Barclays reduced their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Cowen initiated coverage on shares of Columbia Banking System in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Finally, TD Cowen initiated coverage on shares of Columbia Banking System in a research note on Thursday, September 25th. They issued a “hold” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.33.

Columbia Banking System Trading Up 4.0%

COLB opened at $26.74 on Tuesday. Columbia Banking System has a 1-year low of $19.61 and a 1-year high of $32.85. The company has a market capitalization of $5.62 billion, a PE ratio of 10.61 and a beta of 0.60. The firm’s 50 day simple moving average is $26.02 and its two-hundred day simple moving average is $24.38.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The business had revenue of $348.47 million for the quarter. Equities analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 57.14%.

Hedge Funds Weigh In On Columbia Banking System

Several institutional investors have recently bought and sold shares of the stock. Yousif Capital Management LLC grew its stake in Columbia Banking System by 32.8% during the third quarter. Yousif Capital Management LLC now owns 93,701 shares of the financial services provider’s stock valued at $2,412,000 after acquiring an additional 23,141 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Columbia Banking System in the 3rd quarter worth $234,000. CWC Advisors LLC. grew its stake in shares of Columbia Banking System by 89.8% in the 3rd quarter. CWC Advisors LLC. now owns 24,282 shares of the financial services provider’s stock worth $625,000 after buying an additional 11,489 shares in the last quarter. Thomasville National Bank purchased a new position in shares of Columbia Banking System in the 3rd quarter worth $310,000. Finally, Voya Investment Management LLC grew its stake in shares of Columbia Banking System by 5.2% in the 3rd quarter. Voya Investment Management LLC now owns 24,550 shares of the financial services provider’s stock worth $632,000 after buying an additional 1,206 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

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.