Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Rating of “Hold” by Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.19.

A number of research analysts have recently weighed in on the company. Wedbush lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Wells Fargo & Company lifted their price objective on Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Truist Financial lifted their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COLB. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Columbia Banking System by 1.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,330,133 shares of the financial services provider’s stock valued at $46,346,000 after acquiring an additional 36,867 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in Columbia Banking System by 45.7% during the third quarter. Pathstone Holdings LLC now owns 120,888 shares of the financial services provider’s stock worth $3,156,000 after buying an additional 37,941 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Columbia Banking System by 439.5% during the third quarter. BNP Paribas Financial Markets now owns 79,877 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 65,072 shares in the last quarter. Leuthold Group LLC purchased a new stake in Columbia Banking System during the third quarter worth about $3,181,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Columbia Banking System by 37.8% in the second quarter. Natixis Advisors LLC now owns 97,911 shares of the financial services provider’s stock valued at $1,947,000 after purchasing an additional 26,877 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Down 1.1 %

Columbia Banking System stock opened at $29.52 on Wednesday. The business has a 50-day simple moving average of $29.02 and a two-hundred day simple moving average of $24.75. The company has a market cap of $6.19 billion, a P/E ratio of 12.78 and a beta of 0.64. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period in the previous year, the company posted $0.79 EPS. Research analysts anticipate that Columbia Banking System will post 2.63 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 4.88%. Columbia Banking System’s dividend payout ratio (DPR) is presently 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.