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

Shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $34.80.

COLB has been the topic of a number of analyst reports. Piper Sandler cut their price target on Columbia Banking System from $35.00 to $31.00 in a research note on Monday, May 2nd. Royal Bank of Canada upped their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 22nd. Finally, Raymond James lowered their price objective on shares of Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $29.53 on Friday. The stock’s fifty day moving average price is $29.30 and its two-hundred day moving average price is $31.57. Columbia Banking System has a 52-week low of $26.97 and a 52-week high of $40.78. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 10.62 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLBGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period last year, the company posted $0.77 EPS. On average, equities analysts predict that Columbia Banking System will post 2.72 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Tuesday, August 2nd. Columbia Banking System’s dividend payout ratio (DPR) is presently 43.17%.

Insiders Place Their Bets

In other Columbia Banking System news, Director Craig D. Eerkes acquired 1,694 shares of Columbia Banking System stock in a transaction dated Friday, June 10th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the purchase, the director now directly owns 20,227 shares in the company, valued at approximately $576,874.04. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders bought 2,713 shares of company stock worth $74,593. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Columbia Banking System

Hedge funds have recently bought and sold shares of the company. Earnest Partners LLC acquired a new stake in Columbia Banking System in the 4th quarter valued at about $27,000. Covestor Ltd acquired a new stake in Columbia Banking System during the fourth quarter worth approximately $28,000. Meeder Asset Management Inc. acquired a new stake in Columbia Banking System during the first quarter worth approximately $41,000. Pinebridge Investments L.P. acquired a new stake in Columbia Banking System during the fourth quarter worth approximately $69,000. Finally, Asset Management One Co. Ltd. acquired a new stake in Columbia Banking System during the second quarter worth approximately $70,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Banking System

(Get Rating)

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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