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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been assigned an average rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.38.

COLB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Barclays increased their price objective on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Raymond James upped their price target on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, October 28th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principle Wealth Partners LLC grew its position in Columbia Banking System by 14.3% during the fourth quarter. Principle Wealth Partners LLC now owns 8,843 shares of the financial services provider’s stock worth $239,000 after buying an additional 1,104 shares in the last quarter. Savant Capital LLC boosted its position in shares of Columbia Banking System by 6.1% during the 4th quarter. Savant Capital LLC now owns 16,045 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 919 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Columbia Banking System by 5.0% during the fourth quarter. Bleakley Financial Group LLC now owns 26,362 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 1,251 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Columbia Banking System by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 151,620 shares of the financial services provider’s stock worth $4,115,000 after purchasing an additional 23,948 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its stake in Columbia Banking System by 7.0% in the fourth quarter. Moody Aldrich Partners LLC now owns 337,033 shares of the financial services provider’s stock valued at $9,103,000 after purchasing an additional 22,034 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Down 1.1 %

Shares of NASDAQ:COLB opened at $27.63 on Thursday. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $32.85. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 11.96 and a beta of 0.67. The business’s 50 day moving average is $28.64 and its 200 day moving average is $26.88.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. As a group, equities research analysts expect that Columbia Banking System will post 2.66 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

About Columbia Banking System

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.