Colombian banking system (NASDAQ:COLB – Get a rating) had its target price lowered by Piper Sandler from $35.00 to $31.00 in a note issued to investors on Monday, Fly reports. Piper Sandler’s price target indicates a potential upside of 10.40% from the stock’s previous close.
The COLB has been the subject of several other research reports. StockNews.com assumed coverage on Columbia Banking System in a Thursday, March 31, research note. They issued a “holding” rating for the company. Raymond James lowered his price target on Columbia Banking System shares from $40.00 to $38.00 and set an “outperform” rating for the company in a Friday, April 22 research report. Keefe, Bruyette & Woods launched a hedge on shares of Columbia Banking System in a research report on Friday, February 11. They set a “market performance” rating for the company. Royal Bank of Canada raised its target price on Columbia Banking System shares from $35.00 to $36.00 and gave the company an ‘industry performance’ rating in a Friday, April 22 research report . To finish, Zacks Investment Research moved shares of Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a target price of $38.00 for the company in a research report on Thursday, March 31. Four analysts gave the stock a hold rating, two gave the company a buy rating and one gave the company’s stock a strong buy rating. Based on MarketBeat data, Columbia Banking System currently has an average rating of “Buy” and an average price target of $36.00.
COLB Stock opened at $28.08 on Monday. The company has a 50-day moving average of $32.75. Columbia Banking System has a 12 month minimum of $27.95 and a 12 month maximum of $44.75. The company has a market capitalization of $2.21 billion, a PE ratio of 10.03 and a beta of 0.63.
Colombian 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 $0.74 for the quarter, beating Thomson Reuters consensus estimate of $0.68 by $0.06. 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 in the quarter, versus a consensus estimate of $166.09 million. In the same quarter a year earlier, the company posted earnings per share of $0.73. The company’s revenue increased by 15.8% compared to the same quarter last year. On average, analysts predict Columbia Banking System will post earnings per share of 2.51 for the current fiscal year.
In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf bought 3,000 shares of the company in a transaction on Thursday, February 24. The shares were purchased at an average cost of $33.45 per share, for a total transaction of $100,350.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. 0.62% of the shares are currently held by company insiders.
Several institutional investors have recently bought and sold shares of COLB. Earnest Partners LLC bought a new stock position in Columbia Banking System in Q4 worth $27,000. Covestor Ltd bought a new position in shares of Columbia Banking System in Q4 worth $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 worth $31,000 after buying 329 additional shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Columbia Banking System in Q4 worth $56,000. Finally, Pinebridge Investments LP bought a new position in shares of Columbia Banking System in the 4th quarter at a value of $69,000. Hedge funds and other 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 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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