Columbia Banking System (NASDAQ:COLB) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Columbia Banking System (NASDAQ:COLB – Get Rating) in a report issued on Saturday. The firm issued a hold rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on COLB. Royal Bank of Canada cut their price objective on shares of Columbia Banking System from $37.00 to $33.00 in a report on Wednesday, January 25th. Wells Fargo & Company assumed coverage on shares of Columbia Banking System in a report on Tuesday, February 28th. They issued an overweight rating and a $37.00 price objective on the stock. Stephens upped their price objective on shares of Columbia Banking System from $33.00 to $35.00 and gave the stock an equal weight rating in a report on Monday, February 6th. UBS Group started coverage on shares of Columbia Banking System in a report on Wednesday. They issued a neutral rating and a $23.00 price objective on the stock. Finally, Truist Financial started coverage on shares of Columbia Banking System in a report on Thursday, March 2nd. They set a hold rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Columbia Banking System has a consensus rating of Hold and an average target price of $32.43.

Columbia Banking System Trading Down 1.0 %

Shares of NASDAQ COLB traded down $0.22 during midday trading on Friday, hitting $21.72. 6,011,217 shares of the company traded hands, compared to its average volume of 4,910,749. Columbia Banking System has a 12-month low of $20.25 and a 12-month high of $35.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a 50-day moving average price of $29.10 and a 200 day moving average price of $30.44. The firm has a market cap of $1.71 billion, a P/E ratio of 6.79 and a beta of 0.71.

Columbia Banking System (NASDAQ:COLB – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Columbia Banking System had a net margin of 33.55% and a return on equity of 11.87%. The company had revenue of $203.47 million for the quarter, compared to analysts’ expectations of $197.70 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, analysts expect that Columbia Banking System will post 3.54 earnings per share for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Monday, February 6th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 5.52%. Columbia Banking System’s dividend payout ratio (DPR) is 37.50%.

Institutional Investors Weigh In On Columbia Banking System

A number of large investors have recently added to or reduced their stakes in COLB. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Columbia Banking System in the 1st quarter worth $484,000. PNC Financial Services Group Inc. increased its position in Columbia Banking System by 26.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 1,120 shares during the last quarter. Bank of Montreal Can increased its position in Columbia Banking System by 2.7% during the first quarter. Bank of Montreal Can now owns 23,253 shares of the financial services provider’s stock valued at $790,000 after acquiring an additional 620 shares during the last quarter. MetLife Investment Management LLC increased its position in Columbia Banking System by 56.3% during the first quarter. MetLife Investment Management LLC now owns 42,283 shares of the financial services provider’s stock valued at $1,364,000 after acquiring an additional 15,237 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Columbia Banking System by 3.4% during the first quarter. Rhumbline Advisers now owns 232,909 shares of the financial services provider’s stock valued at $7,516,000 after acquiring an additional 7,638 shares during the last quarter.

Columbia Banking System Company Profile

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Columbia Banking System, Inc is a bank holding company, which engages in the provision of financial services. It offers its services to small and medium-sized businesses, professionals, and individuals. It operates through the Washington, Oregon, Idaho, and California geographical segments. The company was founded in 1993 and is headquartered in Tacoma, WA.