Columbia Banking System (COLB) – Investment Analysts’ Weekly Ratings Updates

Posted by Patrick Bannon on Nov 6th, 2024

Several analysts have recently updated their ratings and price targets for Columbia Banking System (NASDAQ: COLB):

10/28/2024 – Columbia Banking System had its price target raised by analysts at Truist Financial Co. from $28.00 to $30.00. They now have a “hold” rating on the stock.
10/25/2024 – Columbia Banking System had its price target raised by analysts at Royal Bank of Canada from $29.00 to $31.00. They now have a “sector perform” rating on the stock.
10/25/2024 – Columbia Banking System had its price target raised by analysts at Wedbush from $31.00 to $35.00. They now have an “outperform” rating on the stock.
10/25/2024 – Columbia Banking System had its price target raised by analysts at Barclays PLC from $25.00 to $29.00. They now have an “equal weight” rating on the stock.
10/25/2024 – Columbia Banking System had its price target raised by analysts at Wells Fargo & Company from $28.00 to $30.00. They now have an “equal weight” rating on the stock.
10/9/2024 – Columbia Banking System had its price target lowered by analysts at JPMorgan Chase & Co. from $29.00 to $28.00. They now have a “neutral” rating on the stock.
10/5/2024 – Columbia Banking System was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/2/2024 – Columbia Banking System had its price target raised by analysts at Raymond James from $26.00 to $28.00. They now have an “outperform” rating on the stock.
10/1/2024 – Columbia Banking System had its price target raised by analysts at Wells Fargo & Company from $26.00 to $28.00. They now have an “equal weight” rating on the stock.
9/27/2024 – Columbia Banking System had its price target raised by analysts at Barclays PLC from $24.00 to $25.00. They now have an “equal weight” rating on the stock.
9/25/2024 – Columbia Banking System was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
9/24/2024 – Columbia Banking System was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $31.00 price target on the stock, up previously from $28.00.
9/20/2024 – Columbia Banking System had its price target lowered by analysts at Truist Financial Co. from $29.00 to $28.00. They now have a “hold” rating on the stock.

Columbia Banking System Trading Up 11.5 %

COLB stock traded up $3.23 during trading hours on Wednesday, hitting $31.41. 2,821,085 shares of the stock were exchanged, compared to its average volume of 2,282,146. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $31.52. The firm has a market capitalization of $6.58 billion, a P/E ratio of 13.60 and a beta of 0.62. The company has a 50-day simple moving average of $26.08 and a two-hundred day simple moving average of $22.80.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The firm had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same quarter last year, the company earned $0.79 EPS. On average, equities research analysts predict that Columbia Banking System, Inc. will post 2.6 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a dividend of $0.36 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.44 annualized dividend and a yield of 4.58%. Columbia Banking System’s dividend payout ratio is currently 62.34%.

Institutional Trading of Columbia Banking System

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its stake in Columbia Banking System by 13.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,681 shares of the financial services provider’s stock worth $729,000 after buying an additional 4,551 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Columbia Banking System by 71.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,101 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 30,892 shares during the period. BNP Paribas Financial Markets increased its stake in Columbia Banking System by 185.1% during the 1st quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider’s stock valued at $3,363,000 after purchasing an additional 112,826 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Columbia Banking System by 5.6% in the first quarter. Nordea Investment Management AB now owns 154,253 shares of the financial services provider’s stock valued at $2,979,000 after buying an additional 8,187 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Columbia Banking System during the first quarter valued at about $413,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.