Columbia Banking System, Inc. (NASDAQ:COLB) Received Consensus Recommendation of “Hold” by Brokerages


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


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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

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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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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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