Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) earned a consensus “Buy” rating from the seven analysts who currently cover the stock, reports MarketBeat Ratings. Four equity research analysts rated the stock with a hold recommendation, two gave the company a buy recommendation and one gave the company a strong buy recommendation. The 12-month average target price among brokers who have hedged the stock over the past year is $38.00.
A number of analysts have recently commented on COLB’s actions. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a Tuesday, March 22 research note. Keefe, Bruyette & Woods launched coverage on Columbia Banking System in a research note on Friday, February 11. They set a “market performance” rating for the company. Ultimately, StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a Friday, March 11 research note.
Shares of COLB traded down $0.87 on Monday, hitting $33.20. The company had a trading volume of 1,641 shares, compared to an average volume of 837,878. The company has a market capitalization of $2.61 billion, a PE ratio of 11.90 and a beta of 0.66. The stock’s 50-day simple moving average is $35.09. Columbia Banking System has a 12-month low of $30.09 and a 12-month high of $45.25.
Colombia Banking System (NASDAQ:COLB – Get a rating) last announced its quarterly results on Wednesday, January 19. The financial services provider reported EPS of $0.67 for the quarter, beating consensus analyst estimates of $0.56 by $0.11. The company posted revenue of $169.76 million in the quarter, compared to $164.60 million expected by analysts. Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. During the same period a year earlier, the company posted EPS of $0.82. As a group, sell-side analysts expect Columbia Banking System to post EPS of 2.65 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 16. Shareholders of record on Wednesday, February 2 received a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a yield of 3.61%. The ex-dividend date was Tuesday, February 1. Columbia Banking System’s dividend payout ratio (DPR) is currently 43.01%.
In other news, CFO Aaron James Cerf bought 3,000 shares of Columbia Banking System in a trade on Thursday, February 24. The shares were purchased at an average price of $33.45 per share, with a total value of $100,350.00. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Company insiders own 0.62% of the company’s shares.
A number of large investors have recently increased or reduced their stake in COLB. Earnest Partners LLC acquired a new stake in shares of Columbia Banking System in Q4 valued at approximately $27,000. Covestor Ltd acquired a new stake in shares of Columbia Banking System in Q4 worth approximately $28,000. First Horizon Advisors Inc. increased its holdings of Columbia Banking System stock by 99.4% in Q3. First Horizon Advisors Inc. now owns 660 shares of the financial services provider valued at $31,000 after buying 329 additional shares in the last quarter. Neo Ivy Capital Management acquired a new equity stake in Columbia Banking System in Q4 valued at approximately $56,000. Finally, Pinebridge Investments LP acquired a new equity stake in Columbia Banking System in Q4 valued at approximately $69,000. 84.11% of the shares are held by hedge funds and other institutional investors.
About the Columbia Banking System (Get a rating)
Columbia Banking System, Inc operates as a bank 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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