Columbia Banking System (NASDAQ:COLB) PT Raised to $21.00 at Barclays

Columbia Banking System (NASDAQ:COLB) had its target price boosted by Barclays from $20.00 to $21.00 in a research report released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on COLB. Wedbush reiterated a neutral rating and set a $20.00 price target on shares of Columbia Banking System in a research report on Friday. Raymond James downgraded Columbia Banking System from a strong-buy rating to an outperform rating and set a $25.00 price target on the stock. in a research note on Thursday, January 25th. Wells Fargo & Company reduced their price target on Columbia Banking System from $25.00 to $22.00 and set an equal weight rating on the stock in a research report on Wednesday, April 10th. Piper Sandler cut their target price on Columbia Banking System from $36.00 to $29.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $23.00 to $22.00 and set a neutral rating for the company in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Columbia Banking System has a consensus rating of Hold and a consensus target price of $22.19.

Columbia Banking System Price Performance

COLB stock opened at $19.12 on Friday. The company has a 50 day moving average price of $18.51 and a 200 day moving average price of $21.14. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The stock has a market capitalization of $4.00 billion, a PE ratio of 8.21 and a beta of 0.71.

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 (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. The business had revenue of $473.72 million for the quarter, compared to analyst estimates of $480.39 million. Columbia Banking System had a return on equity of 11.66% and a net margin of 16.52%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, equities analysts expect that Columbia Banking System will post 2.25 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 23rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.44 annualized dividend and a yield of 7.53%. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $18.48 per share, with a total value of $49,618.80. Following the completion of the acquisition, the director now owns 25,001 shares of the company’s stock, valued at $462,018.48. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Columbia Banking System news, CEO Clint Stein bought 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were bought at an average price of $20.96 per share, for a total transaction of $199,120.00. Following the transaction, the chief executive officer now directly owns 165,684 shares in the company, valued at $3,472,736.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth Whitehead Seaton purchased 2,685 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $18.48 per share, for a total transaction of $49,618.80. Following the completion of the purchase, the director now owns 25,001 shares of the company’s stock, valued at approximately $462,018.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 35,133 shares of company stock valued at $719,737. 0.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Columbia Banking System

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in Columbia Banking System during the 3rd quarter worth approximately $80,011,000. Norges Bank purchased a new position in shares of Columbia Banking System during the fourth quarter valued at approximately $63,152,000. Kennedy Capital Management LLC grew its holdings in Columbia Banking System by 1,633.4% during the third quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock worth $25,936,000 after buying an additional 1,203,933 shares in the last quarter. American Century Companies Inc. raised its position in Columbia Banking System by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock valued at $79,980,000 after buying an additional 967,009 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Columbia Banking System by 3,245.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock valued at $23,068,000 after acquiring an additional 838,762 shares in the last quarter. 92.53% of the stock is owned by institutional investors.

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.