Columbia Banking System, Inc. (NASDAQ:COLB) Receives Average Rating of “Hold” from Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have received a consensus rating of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.1923.

Several research firms have commented on COLB. Stephens raised their target price on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Royal Bank Of Canada lifted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company upped their target price on Columbia Banking System from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $31.24 on Monday. The business’s 50 day simple moving average is $31.32 and its 200 day simple moving average is $29.88. Columbia Banking System has a 1 year low of $23.66 and a 1 year high of $33.67. The company has a market capitalization of $8.84 billion, a P/E ratio of 12.45, a P/E/G ratio of 3.09 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same period in the prior year, the company posted $0.76 EPS. On average, sell-side analysts anticipate that Columbia Banking System will post 3.03 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. Columbia Banking System’s payout ratio is 58.96%.

Insider Buying and Selling at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at $554,793.72. This trade represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Columbia Banking System in the 2nd quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its position in Columbia Banking System by 194.6% during 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. Cedar Mountain Advisors LLC lifted its stake in Columbia Banking System by 571.7% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares during the last quarter. Horizon Investments LLC lifted its stake in Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 773 shares during the last quarter. Finally, Rossby Financial LCC acquired a new stake in Columbia Banking System in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

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.