Analysts Set Columbia Banking System, Inc. (NASDAQ:COLB) Target Price at $22.19

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.19.

Several research firms have recently commented on COLB. Citigroup lowered their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Truist Financial decreased their price objective on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Wells Fargo & Company decreased their price objective on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. UBS Group decreased their price objective on Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating for the company in a research note on Friday, January 26th. Finally, TheStreet cut Columbia Banking System from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd.

Columbia Banking System Price Performance

Columbia Banking System stock opened at $20.17 on Tuesday. The business has a 50 day simple moving average of $18.62 and a 200 day simple moving average of $21.13. Columbia Banking System has a one year low of $17.08 and a one year high of $28.11. The company has a market capitalization of $4.22 billion, a PE ratio of 8.66 and a beta of 0.69.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. The firm had revenue of $473.72 million during the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Equities analysts anticipate that Columbia Banking System will post 2.35 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 7.14%. Columbia Banking System’s payout ratio is 61.80%.

Insider Activity

In other news, Director Elizabeth Whitehead Seaton purchased 2,685 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $18.48 per share, for a total transaction of $49,618.80. Following the completion of the acquisition, the director now directly owns 25,001 shares in the company, valued at approximately $462,018.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Columbia Banking System

A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in Columbia Banking System by 1,506.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,326 shares in the last quarter. Fifth Third Bancorp raised its position in Columbia Banking System by 113.4% during the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,047 shares during the last quarter. First Pacific Financial bought a new position in Columbia Banking System during the 4th quarter worth $40,000. Headlands Technologies LLC bought a new position in Columbia Banking System during the 4th quarter worth $42,000. Finally, GAMMA Investing LLC bought a new position in Columbia Banking System during the 4th quarter worth $48,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.