Barclays Has Lowered Expectations for Columbia Banking System (NASDAQ:COLB) Stock Price

Columbia Banking System (NASDAQ:COLB) had its price target cut by analysts at Barclays from $33.00 to $27.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 21.57% from the company’s previous close.

COLB has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Stephens dropped their target price on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped their target price on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Citigroup dropped their target price on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.00.

Columbia Banking System Stock Performance

COLB opened at $22.21 on Tuesday. Columbia Banking System has a one year low of $17.08 and a one year high of $32.85. The stock has a market capitalization of $4.67 billion, a PE ratio of 8.74 and a beta of 0.53. The business’s 50 day moving average price is $25.40 and its 200 day moving average price is $27.31.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, equities research analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Columbia Banking System

In other news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now directly owns 104,869 shares in the company, valued at $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COLB. Tidal Investments LLC boosted its stake in Columbia Banking System by 1.1% in the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 464 shares during the period. Arizona State Retirement System lifted its position in Columbia Banking System by 0.8% in the 4th quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider’s stock worth $1,641,000 after buying an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Columbia Banking System by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider’s stock worth $1,025,000 after buying an additional 544 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Columbia Banking System by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider’s stock worth $2,476,000 after buying an additional 580 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Columbia Banking System by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider’s stock worth $844,000 after buying an additional 612 shares in the last quarter. 92.53% of the stock is currently 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.