Columbia Banking System (NASDAQ:COLB) Price Target Cut to $31.00 by Analysts at Stephens

Columbia Banking System (NASDAQ:COLB) had its price target decreased by stock analysts at Stephens from $33.00 to $31.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 10.64% from the company’s previous close.

A number of other brokerages have also commented on COLB. Royal Bank of Canada raised their price target on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. UBS Group assumed coverage on Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target for the company. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Citigroup dropped their price target on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wedbush raised their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.38.

Columbia Banking System Trading Down 0.4 %

Shares of NASDAQ:COLB traded down $0.11 during trading on Tuesday, reaching $28.02. 155,013 shares of the company traded hands, compared to its average volume of 1,429,670. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 12.13 and a beta of 0.67. 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 $28.73 and its 200-day moving average is $26.83.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. On average, sell-side analysts predict that Columbia Banking System will post 2.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COLB. Wellington Management Group LLP boosted its position in Columbia Banking System by 31.9% in the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after purchasing an additional 1,611,563 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in Columbia Banking System in the third quarter worth about $26,593,000. Holocene Advisors LP boosted its position in Columbia Banking System by 1,001.8% in the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider’s stock worth $25,126,000 after purchasing an additional 874,986 shares during the last quarter. Janus Henderson Group PLC boosted its position in Columbia Banking System by 33.1% in the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after purchasing an additional 562,467 shares during the last quarter. Finally, Stieven Capital Advisors L.P. boosted its position in Columbia Banking System by 98.6% in the third quarter. Stieven Capital Advisors L.P. now owns 944,332 shares of the financial services provider’s stock worth $24,657,000 after purchasing an additional 468,832 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other 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.