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


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

(Get a rating)

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.

Read more

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

This instant news alert was powered by MarketBeat’s storytelling 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]

Before you consider Columbia Banking System, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Columbia Banking System wasn’t on the list.

While Columbia Banking System currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here


About Author

Comments are closed.