StockNews.com upgraded shares of Columbia Banking System (NASDAQ:COLB – Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.
Several other equities analysts have also commented on COLB. Truist Financial decreased their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a hold rating on the stock in a report on Friday, September 20th. Barclays upped their price target on Columbia Banking System from $24.00 to $25.00 and gave the stock an equal weight rating in a research note on Friday, September 27th. Wells Fargo & Company lifted their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an equal weight rating in a research note on Tuesday, October 1st. Stephens increased their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an equal weight rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their target price on Columbia Banking System from $22.00 to $29.00 and gave the company a neutral rating in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $25.88.
Read Our Latest Stock Analysis on Columbia Banking System
Columbia Banking System Price Performance
Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the previous year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts forecast that Columbia Banking System will post 2.55 EPS for the current year.
Columbia Banking System Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.64%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.
Institutional Investors Weigh In On Columbia Banking System
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Columbia Banking System in the second quarter valued at $33,000. Abich Financial Wealth Management LLC raised its position in shares of Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares in the last quarter. GAMMA Investing LLC lifted its stake in Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 4,115 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.
About Columbia Banking System
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.
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