Columbia Banking System (NASDAQ:COLB) Stock Rating Upgraded by StockNews.com

Columbia Banking System (NASDAQ:COLB) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

COLB has been the subject of several other reports. Stephens downgraded Columbia Banking System from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $31.00 to $24.00 in a report on Thursday, January 25th. Wedbush reissued a “neutral” rating and issued a $20.00 target price on shares of Columbia Banking System in a report on Friday, April 26th. Citigroup cut their price target on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Truist Financial cut their price target on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.19.

Columbia Banking System Stock Performance

COLB stock opened at $20.08 on Monday. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $28.11. The stock’s 50 day moving average price is $18.72 and its 200 day moving average price is $21.15. The firm has a market cap of $4.20 billion, a P/E ratio of 8.62 and a beta of 0.69.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The company had revenue of $473.72 million for the quarter, compared to analyst estimates of $480.39 million. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts predict that Columbia Banking System will post 2.37 earnings per share for the current year.

Institutional Investors Weigh In On Columbia Banking System

A number of institutional investors have recently modified their holdings of COLB. EverSource Wealth Advisors LLC lifted its stake in shares of Columbia Banking System by 1,506.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,326 shares during the last quarter. First Pacific Financial bought a new position in Columbia Banking System in the 4th quarter worth $40,000. Headlands Technologies LLC bought a new position in shares of Columbia Banking System during the 4th quarter worth about $42,000. GAMMA Investing LLC bought a new position in shares of Columbia Banking System during the 4th quarter worth about $48,000. Finally, Fifth Third Bancorp increased its holdings in shares of 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 period. 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.