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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $32.8077.

COLB has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Wells Fargo & Company lifted their target price on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Columbia Banking System in a report on Monday, June 29th. Barclays reduced their price target on shares of Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Finally, Wall Street Zen cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $32.57 on Thursday. The firm’s 50 day moving average price is $30.51 and its two-hundred day moving average price is $29.49. Columbia Banking System has a twelve month low of $22.77 and a twelve month high of $32.77. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.20 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, research analysts forecast that Columbia Banking System will post 3.05 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.37 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a yield of 4.5%. Columbia Banking System’s dividend payout ratio is presently 58.96%.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. This trade represents a 17.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Trading of Columbia Banking System

Hedge funds and other institutional investors have recently modified their holdings of the company. Ausbil Investment Management Ltd boosted its position in Columbia Banking System by 55.6% during the second quarter. Ausbil Investment Management Ltd now owns 68,483 shares of the financial services provider’s stock valued at $2,226,000 after purchasing an additional 24,482 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Columbia Banking System by 28.4% in the second quarter. Handelsbanken Fonder AB now owns 122,399 shares of the financial services provider’s stock valued at $3,923,000 after purchasing an additional 27,100 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Columbia Banking System in the 2nd quarter worth about $862,000. Quad Cities Investment Group LLC increased its position in Columbia Banking System by 0.7% in the 2nd quarter. Quad Cities Investment Group LLC now owns 45,802 shares of the financial services provider’s stock worth $1,468,000 after purchasing an additional 331 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Columbia Banking System by 6.9% during the 2nd quarter. GAMMA Investing LLC now owns 10,197 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 655 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

About Columbia Banking System

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.