Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $33.6154.

COLB has been the topic of several analyst reports. Fundamental Research set a $35.00 price objective on Columbia Banking System in a research report on Wednesday, July 1st. DA Davidson upgraded shares of Columbia Banking System from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $36.00 in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Barclays cut their target price on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. Finally, Stephens raised their price target on Columbia Banking System from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th.

Columbia Banking System Stock Up 1.2%

Shares of Columbia Banking System stock opened at $30.45 on Friday. The firm has a market cap of $8.61 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.62. The company’s fifty day simple moving average is $31.58 and its two-hundred day simple moving average is $29.98. Columbia Banking System has a 12-month low of $23.83 and a 12-month high of $33.67.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the previous year, the business posted $0.76 EPS. As a group, sell-side analysts expect that Columbia Banking System will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, August 28th. This represents a $1.48 dividend on an annualized basis and a yield of 4.9%. Columbia Banking System’s dividend payout ratio (DPR) is presently 58.96%.

Insider Activity

In related news, CMO David Moore Devine sold 3,872 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the transaction, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COLB. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Columbia Banking System in the 2nd quarter valued at $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in Columbia Banking System during the 2nd quarter worth approximately $31,000. Cedar Mountain Advisors LLC lifted its stake in Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 949 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 773 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.