Columbia Banking System (NASDAQ:COLB) Price Target Raised to $32.00

Columbia Banking System (NASDAQ:COLB) had its target price upped by Barclays from $30.00 to $32.00 in a research note issued to investors on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup dropped their target price on Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 22nd. Royal Bank Of Canada boosted their price objective on 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. JPMorgan Chase & Co. dropped their price objective on Columbia Banking System from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Weiss Ratings downgraded Columbia Banking System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $36.00 in a research note on Tuesday, September 1st. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.58.

Columbia Banking System Trading Down 2.2%

Shares of COLB stock opened at $28.26 on Monday. The stock has a market capitalization of $7.99 billion, a P/E ratio of 11.26, a PEG ratio of 2.86 and a beta of 0.66. The firm’s 50 day moving average is $30.35 and its 200 day moving average is $30.13. Columbia Banking System has a 12 month low of $23.83 and a 12 month high of $33.67.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. During the same period last year, the firm earned $0.76 EPS. On average, equities analysts predict that Columbia Banking System will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, August 28th. This represents a $1.48 annualized dividend and a yield of 5.2%. Columbia Banking System’s dividend payout ratio is currently 58.96%.

Institutional Investors Weigh In On Columbia Banking System

Several institutional investors have recently added to or reduced their stakes in COLB. Public Employees Retirement System of Ohio bought a new stake in shares of Columbia Banking System during the 2nd quarter valued at $2,746,000. TD Asset Management Inc grew its position in shares of Columbia Banking System by 12.0% in the 4th quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider’s stock worth $12,911,000 after buying an additional 49,454 shares during the period. Amundi increased its stake in shares of Columbia Banking System by 52.7% in the 2nd quarter. Amundi now owns 102,500 shares of the financial services provider’s stock worth $3,285,000 after acquiring an additional 35,365 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Columbia Banking System in the 2nd quarter worth about $68,906,000. Finally, Fifth Third Bancorp lifted its position in Columbia Banking System by 3,617.7% during the 1st quarter. Fifth Third Bancorp now owns 75,469 shares of the financial services provider’s stock valued at $2,070,000 after acquiring an additional 73,439 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc (NASDAQ: COLB) is a bank holding company headquartered in Tacoma, Washington. Through its subsidiary, Umpqua Bank, the company provides a range of banking and financial services to individuals, families, businesses and institutions.

Umpqua Bank’s offerings include deposit accounts, consumer and commercial lending, real estate finance, treasury management, cash management, investment services and other business banking solutions. The bank serves small and middle-market companies as well as retail customers through branches, digital banking platforms and relationship-based financial services.

Columbia Banking System traces its history to the formation of Columbia Bank in Washington in 1993.