Columbia Banking System, Inc. (NASDAQ:COLB) Receives $40.00 Average PT from Analysts


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Columbia Banking System, Inc. (NASDAQ:COLB) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $42.25.

COLB has been the subject of a number of recent analyst reports. Stephens assumed coverage on Columbia Banking System in a research note on Tuesday, January 5th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods lowered Columbia Banking System from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $39.00 to $43.00 in a research report on Friday, January 29th. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $47.00 price objective (up from $43.00) on shares of Columbia Banking System in a research report on Wednesday, March 3rd.

Shares of COLB stock opened at $42.94 on Monday. The stock has a market cap of $3.08 billion, a PE ratio of 21.58 and a beta of 0.97. The stock has a 50-day moving average of $45.81 and a 200-day moving average of $36.58. Columbia Banking System has a one year low of $19.11 and a one year high of $50.68.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Wednesday, January 27th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. The company had revenue of $154.67 million during the quarter, compared to analysts’ expectations of $143.59 million. Columbia Banking System had a return on equity of 6.35% and a net margin of 22.90%. During the same period in the prior year, the business posted $0.64 EPS. Analysts anticipate that Columbia Banking System will post 1.96 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 24th. Shareholders of record on Wednesday, February 10th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Tuesday, February 9th. Columbia Banking System’s dividend payout ratio (DPR) is currently 41.79%.

Large investors have recently added to or reduced their stakes in the business. Inspire Advisors LLC acquired a new position in Columbia Banking System during the 4th quarter worth approximately $28,000. Toronto Dominion Bank acquired a new position in Columbia Banking System during the 4th quarter worth approximately $46,000. Sittner & Nelson LLC acquired a new position in Columbia Banking System during the 4th quarter worth approximately $72,000. Veriti Management LLC acquired a new position in Columbia Banking System during the 4th quarter worth approximately $100,000. Finally, BNC Wealth Management LLC acquired a new position in Columbia Banking System during the 3rd quarter worth approximately $82,000. 90.57% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including non-interest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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