Columbia Banking System, Inc. (NASDAQ:COLB) Stock Has Consensus Price Target of $33.83 According to Brokerages

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $33.75.

Several equities research analysts have recently issued reports on COLB shares. Weiss Ratings lowered shares of Columbia Banking System from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. Keefe, Bruyette & Woods upped their price target 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 reduced their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company boosted their target price on Columbia Banking System from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th.

Columbia Banking System Stock Performance

NASDAQ COLB opened at $29.64 on Tuesday. The business’s 50 day moving average price is $30.85 and its 200-day moving average price is $29.98. Columbia Banking System has a fifty-two week low of $23.83 and a fifty-two week high of $33.67. The company has a market cap of $8.39 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.93 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same period last year, the company earned $0.76 earnings per share. As a group, equities analysts predict that Columbia Banking System will post 3.03 EPS for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Hedge Funds Weigh In On Columbia Banking System

A number of large investors have recently bought and sold shares of COLB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Columbia Banking System in the second quarter worth $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Columbia Banking System during the second quarter worth $31,000. Cedar Mountain Advisors LLC boosted its stake in shares of Columbia Banking System by 571.7% during the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of Columbia Banking System in the fourth quarter worth about $43,000. Finally, MBM Wealth Consultants LLC bought a new position in shares of Columbia Banking System in the first quarter worth about $49,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a regional bank holding company headquartered in Tacoma, Washington. Through its principal subsidiary, Columbia Bank, the company provides banking and financial services to individuals, families, businesses, professionals and public-sector organizations.

Its products and services include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, lines of credit, treasury management, wealth management, mortgage services and digital banking.