Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) has been assigned an average rating of “Hold” by the seven analysts who currently cover the company, reports MarketBeat Ratings. Four research analysts rated the stock with a Hold recommendation and two gave the company a Buy recommendation. The 1-year average price target among analysts who have rated the stock over the past year is $34.80.
COLB has been the subject of several recent analyst reports. Raymond James cut his price target on Columbia Banking System stock from $38.00 to $34.00 and set an “outperform” rating on the stock in a Thursday, July 7, report. Piper Sandler cut her price target on shares of Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 report.
Columbia Banking System Stock Performance
Shares of Columbia Banking System opened at $31.05 on Thursday. The company has a market capitalization of $2.44 billion, a PE ratio of 11.17 and a beta of 0.67. The company has a 50-day simple moving average of $29.79 and a two-hundred-day simple moving average of $31.18. Columbia Banking System has a one-year low of $26.97 and a one-year high of $40.78.
Colombia Banking System (NASDAQ:COLB – Get a rating) last announced its results on Thursday, July 21. The financial services provider reported EPS of $0.75 for the quarter, missing analyst consensus estimates of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. In the same quarter of the previous year, the company had earned earnings per share of $0.77. On average, stock analysts predict Columbia Banking System will post earnings per share of 2.74 for the current fiscal year.
Columbia Banking System Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17. Investors of record on Wednesday August 3 received a dividend of $0.30. This represents an annualized dividend of $1.20 and a yield of 3.86%. The ex-dividend date was Tuesday, August 2. Columbia Banking System’s dividend payout ratio is currently 43.17%.
Insiders place their bets
Separately, director Craig D. Eerkes bought 1,694 shares of the company in a trade on Friday, June 10. The shares were purchased at an average price of $28.52 per share, with a total value of $48,312.88. Following completion of the transaction, the administrator now directly owns 20,227 shares of the company, valued at approximately $576,874.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders have purchased 2,713 shares of the company valued at $74,593 over the past three months. 0.62% of the shares are currently held by insiders.
Columbia Banking Institutional Trading
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd purchased a new stake in shares of Columbia Banking System during the fourth quarter worth approximately $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Banking System in the first quarter valued at approximately $41,000. Pinebridge Investments LP acquired a new equity stake in Columbia Banking System in the fourth quarter valued at approximately $69,000. Asset Management One Co. Ltd. acquired a new stake in shares of Columbia Banking System in the second quarter worth approximately $70,000. Finally, Howe & Rusling Inc. acquired a new stake in shares of Columbia Banking System in the first quarter valued at approximately $88,000. 94.44% of the shares are currently held by hedge funds and other institutional investors.
About the Columbia Banking System
Columbia Banking System, Inc operates as a banking holding company for Columbia State Bank which provides a range of banking services to small and medium-sized businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.
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