Columbia Banking System, Inc. (NASDAQ:COLB) Receives Average Recommendation of “Hold” from Brokerages

Columbia Banking System, Inc. (NASDAQ:COLB) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $29.5833.

Several analysts recently commented on the stock. Citigroup increased their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Cowen began coverage on Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their target price on Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Barclays upped their target price on Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research report on Monday.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $28.51 on Friday. Columbia Banking System has a 1 year low of $19.61 and a 1 year high of $29.61. The business’s fifty day moving average is $27.32 and its 200-day moving average is $25.85. The stock has a market cap of $8.53 billion, a PE ratio of 12.84 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share for the quarter. Columbia Banking System had a return on equity of 11.13% and a net margin of 15.98%.The business had revenue of $348.47 million during the quarter. Equities research analysts predict that Columbia Banking System will post 2.71 earnings per share for the current year.

Columbia Banking System Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $0.37 per share. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Friday, November 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in Columbia Banking System during the 3rd quarter valued at $67,000. Mirabella Financial Services LLP purchased a new position in shares of Columbia Banking System during the third quarter valued at $2,723,000. New Mexico Educational Retirement Board raised its position in Columbia Banking System by 43.3% during the third quarter. New Mexico Educational Retirement Board now owns 60,914 shares of the financial services provider’s stock valued at $1,568,000 after buying an additional 18,400 shares during the period. Allworth Financial LP lifted its stake in Columbia Banking System by 0.5% in the 3rd quarter. Allworth Financial LP now owns 200,130 shares of the financial services provider’s stock worth $5,151,000 after acquiring an additional 917 shares in the last quarter. Finally, Swiss Life Asset Management Ltd acquired a new stake in Columbia Banking System during the 3rd quarter worth about $362,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.