Columbia Banking System, Inc. (NASDAQ:COLB) Receives Consensus Rating of “Hold” from Analysts

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Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) received a consensus rating of “Hold” from the seven rating agencies that currently cover the company, Market assessments reports. Four equity research analysts rated the stock with a hold recommendation and two gave the company a buy recommendation. The 1-year average target price among analysts who have reported on the stock in the past year is $35.60.

A number of analysts have commented on COLB’s actions. Piper Sandler lowered her target price on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research report. Royal Bank of Canada raised its target price on Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a Friday, April 22 report. Raymond James cut his price target on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating on the stock in a Friday, April 22 report. To finish, StockNews.com assumed coverage on Columbia Banking System in a Thursday, March 31, research report. They have placed a “holding” rating on the stock.

COLB Stock opened at $29.20 on Wednesday. The company has a 50-day moving average price of $29.05 and a 200-day moving average price of $32.23. The stock has a market capitalization of $2.30 billion, a price-earnings ratio of 10.43 and a beta of 0.67. Columbia Banking System has a fifty-two-week low of $26.97 and a fifty-two-week high of $40.78.

Colombian banking system (NASDAQ:COLBGet a rating) last reported results on Thursday, April 21. The financial services provider reported earnings per share of $0.81 for the quarter, beating the consensus estimate of $0.66 by $0.15. The company posted revenue of $170.38 million in the quarter, compared to $166.09 million expected by analysts. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. The company’s revenue increased by 15.8% compared to the same quarter last year. In the same quarter a year earlier, the company earned $0.73 per share. Research analysts predict Columbia Banking System will post an EPS of 2.63 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.30. 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 (DPR) is currently 42.86%.

In related news, CFO Aaron James Cerf bought 3,000 shares of Columbia Banking System in a trade on Monday, May 2. The stock was purchased at an average price of $28.00 per share, with a total value of $84,000.00. Following the completion of the transaction, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The acquisition was disclosed in a filing with the SEC, accessible via this link. Additionally, director Craig D. Eerkes purchased 1,694 shares of Columbia Banking System in a trade on Friday, June 10. The stock was purchased at an average cost of $28.52 per share, with a total value of $48,312.88. Following the transaction, the administrator now directly owns 20,227 shares of the company, valued at $576,874.04. Disclosure of this purchase can be found here. Insiders acquired 5,713 shares of the company worth $158,593 in the past 90 days. Company insiders own 0.62% of the company’s shares.

A number of institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. increased its stake in Columbia Banking System by 6.3% in Q1. Crossmark Global Holdings Inc. now owns 7,120 shares of the financial services provider valued at $230,000 after acquiring an additional 420 shares last quarter. Mercer Global Advisors Inc. ADV increased its stake in Columbia Banking System by 3.0% in Q1. Mercer Global Advisors Inc. ADV now owns 16,106 shares of the financial services provider valued at $520,000 after acquiring 465 additional shares in the last quarter. Profund Advisors LLC increased its holdings in Columbia Banking System by 6.5% in the fourth quarter. Profund Advisors LLC now owns 8,703 shares of the financial services provider valued at $285,000 after acquiring 529 additional shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Columbia Banking System shares by 5.5% in Q1. Mutual of America Capital Management LLC now owns 11,201 shares of the financial services provider valued at $361,000 after purchasing an additional 580 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Columbia Banking System shares by 0.5% in the 4th quarter. The New York State Teachers’ Retirement System now owns 123,692 shares of the financial services provider worth $4,047,000 after purchasing an additional 600 shares during the period. 94.44% 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 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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