Analysts Set Columbia Banking System, Inc. (COLB) Price Target at $44.25
Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received a consensus recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $44.25.
COLB has been the subject of a number of research analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $42.00 target price on shares of Columbia Banking System in a report on Friday, September 8th. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 target price on shares of Columbia Banking System in a report on Friday, June 16th. Piper Jaffray Companies upgraded Columbia Banking System from a “neutral” rating to an “overweight” rating and increased their target price for the company from $43.00 to $46.00 in a report on Monday, July 31st. Finally, BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th.
Columbia Banking System (NASDAQ COLB) traded up 0.03% during trading on Wednesday, reaching $37.89. The company had a trading volume of 892,497 shares. The company has a 50-day moving average price of $37.68 and a 200 day moving average price of $38.74. Columbia Banking System has a 52-week low of $31.75 and a 52-week high of $45.68. The stock has a market cap of $2.21 billion, a PE ratio of 19.24 and a beta of 1.24.
Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). The business had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. During the same quarter in the previous year, the company earned $0.44 EPS. On average, analysts anticipate that Columbia Banking System will post $2.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, August 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. Columbia Banking System’s dividend payout ratio is 44.67%.
Several large investors have recently made changes to their positions in COLB. BlackRock Inc. raised its holdings in shares of Columbia Banking System by 49,309.5% during the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after acquiring an additional 7,192,784 shares in the last quarter. State Street Corp raised its holdings in Columbia Banking System by 74.9% during the first quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock valued at $107,399,000 after buying an additional 1,179,254 shares in the last quarter. Janus Henderson Group PLC bought a new position in Columbia Banking System during the second quarter valued at about $44,762,000. Neuberger Berman Group LLC raised its holdings in Columbia Banking System by 109.9% during the first quarter. Neuberger Berman Group LLC now owns 1,302,419 shares of the financial services provider’s stock valued at $50,781,000 after buying an additional 681,910 shares in the last quarter. Finally, Tributary Capital Management LLC bought a new position in Columbia Banking System during the second quarter valued at about $12,655,000. Institutional investors and hedge funds own 96.75% of the company’s stock.
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About Columbia Banking System
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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