Columbia Banking System, Inc. (NASDAQ:COLB) Receives $32.19 Average PT from Brokerages

Columbia Banking System, Inc. (NASDAQ:COLB) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are currently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.8846.

A number of equities research analysts recently weighed in on COLB shares. Stephens lifted their price objective on shares of Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. DA Davidson increased their target price on shares of Columbia Banking System from $30.00 to $32.50 and gave the company a “neutral” rating in a research report on Friday, January 23rd. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research report on Wednesday, January 7th. Weiss Ratings raised shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, March 30th.

Columbia Banking System Price Performance

Shares of COLB stock opened at $27.73 on Tuesday. Columbia Banking System has a 12-month low of $19.61 and a 12-month high of $32.70. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 12.27 and a beta of 0.61. The business has a 50 day simple moving average of $28.91 and a 200 day simple moving average of $27.87.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The firm had revenue of $715.00 million for the quarter, compared to the consensus estimate of $693.23 million. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities analysts anticipate that Columbia Banking System will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, February 27th. Columbia Banking System’s dividend payout ratio is 65.49%.

Insiders Place Their Bets

In other news, Director Steven R. Gardner sold 13,725 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Torran B. Nixon sold 2,241 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total value of $63,308.25. Following the transaction, the vice president directly owned 100,469 shares of the company’s stock, valued at $2,838,249.25. This represents a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 19,354 shares of company stock valued at $561,971. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds and other institutional investors have recently bought and sold shares of COLB. True Wealth Design LLC lifted its holdings in Columbia Banking System by 612.8% in the 3rd quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 864 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Columbia Banking System in the 3rd quarter worth approximately $28,000. Quent Capital LLC bought a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $29,000. Geneos Wealth Management Inc. raised its holdings in shares of Columbia Banking System by 194.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 794 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in Columbia Banking System during the third quarter valued at approximately $31,000. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.