Columbia Banking System, Inc. (NASDAQ:COLB) Receives Consensus “Hold” Recommendation From Analysts

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Stocks of Columbia Banking System, Inc. (NASDAQ: COLB – Get a rating) have been given a consensus rating of “Hold” by the seven brokerages that cover the company, MarketBeat reports. Four analysts rated the stock with a hold recommendation and two gave the company a buy recommendation. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $34.80.

Separately, Raymond James lowered its 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.

Institutional investors weigh on Columbia’s banking system

A number of institutional investors and hedge funds have recently changed their holdings in COLB. Teacher Retirement System of Texas increased its stake in Columbia Banking System by 31.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,167 shares of the financial services provider valued at $496,000 after buying 3,631 additional shares last quarter. Citigroup Inc. increased its stake in Columbia Banking System by 48.7% in the fourth quarter. Citigroup Inc. now owns 114,997 shares of the financial services provider valued at $3,763,000 after buying 37,653 additional shares last quarter. JPMorgan Chase & Co. increased its stake in Columbia Banking System by 3.2% in the fourth quarter. JPMorgan Chase & Co. now owns 651,070 shares of the financial services provider valued at $21,303,000 after buying an additional 19,933 shares last quarter. Rhumbline Advisers increased its position in Columbia Banking System by 4.9% during the fourth quarter. Rhumbline Advisers now owns 225,271 shares of the financial services provider valued at $7,371,000 after acquiring an additional 10,580 shares in the last quarter. Finally, Covestor Ltd bought a new position in Columbia Banking System during the fourth quarter worth approximately $28,000. 94.45% of the shares are held by hedge funds and other institutional investors.

Columbia’s banking system stock down 2.0%

The NASDAQ COLB opened at $30.11 on Monday. The company has a market capitalization of $2.37 billion, a PE ratio of 10.83 and a beta of 0.66. Columbia Banking System has a 52-week low of $26.97 and a 52-week high of $40.78. The company’s 50-day simple moving average is $30.27 and its two-hundred-day simple moving average is $30.45.

Colombia Banking System (NASDAQ:COLB – Get a rating) last released its quarterly earnings data on Thursday, July 21. The financial services provider reported EPS of $0.75 for the quarter, missing the consensus estimate of $0.77 per ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. In the same quarter of the previous year, the company achieved EPS of $0.77. As a group, equity research analysts expect Columbia Banking System to post EPS of 2.8 for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 17. Shareholders of record on Wednesday August 3 received a dividend of $0.30. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Tuesday, August 2. Columbia Banking System’s payout rate is 43.17%.

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)

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