UBS Group Begins Coverage on Columbia Banking System (NASDAQ:COLB)

Analysts at UBS Group started coverage on shares of Columbia Banking System (NASDAQ:COLB) in a research note issued on Tuesday. The brokerage set a “neutral” rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial raised their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company raised their price objective on shares of Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Raymond James raised their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.19.

Columbia Banking System Price Performance

Shares of COLB traded down $1.08 during mid-day trading on Tuesday, reaching $28.66. The stock had a trading volume of 230,660 shares, compared to its average volume of 2,173,953. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $32.85. The business’s fifty day moving average is $29.35 and its 200 day moving average is $25.06. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 12.41 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter last year, the firm posted $0.79 earnings per share. As a group, sell-side analysts anticipate that Columbia Banking System will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its stake in shares of Columbia Banking System by 0.3% during the third quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock worth $4,583,000 after buying an additional 458 shares during the period. Tidal Investments LLC boosted its stake in shares of Columbia Banking System by 1.1% during the third quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 464 shares during the period. Sippican Capital Advisors boosted its stake in shares of Columbia Banking System by 0.5% during the third quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock worth $2,903,000 after buying an additional 552 shares during the period. Caprock Group LLC lifted its position in Columbia Banking System by 2.5% in the third quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider’s stock valued at $741,000 after purchasing an additional 682 shares during the period. Finally, Signaturefd LLC lifted its position in Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 709 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.