UBS Group started coverage on shares of Columbia Banking System (NASDAQ:COLB – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating and a $23.00 price target on the financial services provider’s stock. UBS Group’s price objective indicates a potential upside of 4.83% from the stock’s previous close.
A number of other equities analysts also recently issued reports on COLB. Stephens increased their price target on Columbia Banking System from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, February 6th. StockNews.com assumed coverage on Columbia Banking System in a research note on Friday, March 10th. They issued a “hold” rating for the company. Truist Financial assumed coverage on Columbia Banking System in a research note on Thursday, March 2nd. They issued a “hold” rating and a $33.00 price target for the company. Wells Fargo & Company assumed coverage on Columbia Banking System in a research note on Tuesday, February 28th. They issued an “overweight” rating and a $37.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on Columbia Banking System from $37.00 to $33.00 in a research note on Wednesday, January 25th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.29.
Columbia Banking System Stock Up 3.4 %
Shares of COLB opened at $21.94 on Wednesday. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 6.63 and a beta of 0.71. Columbia Banking System has a 1 year low of $20.25 and a 1 year high of $35.53. The business’s 50 day simple moving average is $29.39 and its 200-day simple moving average is $30.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.70.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Columbia Banking System by 203.2% in the fourth quarter. IFP Advisors Inc now owns 473 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 317 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Columbia Banking System during the fourth quarter worth about $32,000. Wipfli Financial Advisors LLC acquired a new stake in Columbia Banking System during the third quarter worth about $40,000. CWM LLC grew its holdings in Columbia Banking System by 63.5% during the third quarter. CWM LLC now owns 1,390 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 540 shares during the period. Finally, Covestor Ltd grew its holdings in Columbia Banking System by 178.9% during the first quarter. Covestor Ltd now owns 2,421 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 1,553 shares during the period.
Columbia Banking System Company Profile
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.
- Get a free copy of the StockNews.com research report on Columbia Banking System (COLB)
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