Stocks of Columbia Banking System, Inc. (NASDAQ: COLB – Get a rating) have been given a consensus rating of “Hold” by the seven rating agencies that 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 12-month average price target among brokerages that have reported on the stock over the past year is $35.60.
Several brokerages have recently commented on COLB. StockNews.com launched a hedge on Columbia Banking System shares in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Piper Sandler lowered her price target on Columbia Banking System shares from $35.00 to $31.00 in a Monday, May 2 research report. Raymond James lowered his price target on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 22. Finally, Royal Bank of Canada raised its price target on Columbia Banking System shares from $35.00 to $36.00 and gave the company an “sector performance” rating in a research report. Friday, April 22.
NASDAQ:COLB opened at $29.20 on Wednesday. Columbia Banking System has a 1-year minimum of $26.97 and a 1-year maximum of $40.78. The company has a market capitalization of $2.30 billion, a P/E ratio of 10.43 and a beta of 0.67. The stock’s fifty-day moving average price is $29.05 and its two-hundred-day moving average price is $32.23.
Colombia Banking System (NASDAQ:COLB – Get a rating) last released its quarterly earnings data on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, beating analyst consensus estimates of $0.66 by $0.15. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. The company posted revenue of $170.38 million for the quarter, versus a consensus estimate of $166.09 million. In the same quarter last year, the company posted earnings per share of $0.73. The company’s revenue increased by 15.8% compared to the same quarter last year. Stock analysts expect Columbia Banking System to post earnings per share of 2.63 for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 18. Investors of record on Wednesday, May 4 received a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 3. This represents a dividend of $1.20 on an annualized basis and a yield of 4.11%. Columbia Banking System’s dividend payout ratio is currently 42.86%.
Separately, director Craig D. Eerkes purchased 1,694 shares of the company in a transaction dated Friday, June 10. The shares were purchased at an average cost of $28.52 per share, with a total value of $48,312.88. Following the transaction, the administrator now owns 20,227 shares of the company, valued at approximately $576,874.04. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Also, CFO Aaron James Cerf bought 3,000 shares of the company in a transaction that took place on Monday, May 2. The shares were purchased at an average cost of $28.00 per share, with a total value of $84,000.00. Following the completion of the purchase, the CFO now owns 15,427 shares of the company, valued at $431,956. Disclosure of this purchase can be found here. Insiders have purchased 5,713 shares of the company worth $158,593 over the past three months. Insiders own 0.62% of the shares of the company.
Several institutional investors have recently changed their stake in COLB. Bank of New York Mellon Corp increased its stake in shares of Columbia Banking System by 19.9% in the third quarter. Bank of New York Mellon Corp now owns 1,627,370 shares of the financial services provider worth $61,824,000 after acquiring an additional 270,428 shares last quarter. American International Group Inc. increased its stake in shares of Columbia Banking System by 5.1% in the third quarter. American International Group Inc. now owns 49,110 shares of the financial services provider worth $1,866,000 after acquiring 2,391 additional shares last quarter. UBS Asset Management Americas Inc. increased its stake in Columbia Banking System shares by 6.9% in Q3. UBS Asset Management Americas Inc. now owns 79,900 shares of the financial services provider worth $3,035,000 after acquiring 5,187 additional shares last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Columbia Banking System by 14.5% in Q4. Crossmark Global Holdings Inc. now owns 6,700 shares of the financial services provider worth $219,000 after acquiring an additional 850 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Columbia Banking System by 8.7% during the 4th quarter. The Louisiana State Employees Retirement System now owns 37,600 shares of the financial services provider valued at $1,230,000 after buying an additional 3,000 shares last quarter. Institutional investors hold 94.44% of the company’s shares.
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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