Royal Bank Of Canada reaffirmed their hold rating on shares of Columbia Banking System, Inc. (NASDAQ:COLB) in a report published on Friday morning. The firm currently has a $42.00 price objective on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Piper Jaffray Companies cut their target price on shares of Columbia Banking System from $43.00 to $41.00 and set a neutral rating for the company in a report on Monday, April 17th. Zacks Investment Research raised shares of Columbia Banking System from a sell rating to a hold rating in a report on Wednesday, July 26th. BidaskClub lowered shares of Columbia Banking System from a hold rating to a sell rating in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $44.00 target price on shares of Columbia Banking System in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $44.40.

Columbia Banking System (NASDAQ:COLB) opened at 39.84 on Friday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 20.21 and a beta of 1.22. The firm has a 50 day moving average of $39.69 and a 200-day moving average of $39.39. Columbia Banking System has a 52-week low of $28.51 and a 52-week high of $45.68.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.01. The firm had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $112.27 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. During the same period last year, the firm earned $0.44 earnings per share. Equities analysts expect that Columbia Banking System will post $2.04 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a $0.22 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 2.21%. Columbia Banking System’s dividend payout ratio is currently 44.67%.

In related news, CFO Clint Stein sold 8,000 shares of Columbia Banking System stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $40.09, for a total value of $320,720.00. Following the sale, the chief financial officer now owns 22,877 shares of the company’s stock, valued at approximately $917,138.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.23% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Columbia Banking System by 49,309.5% in the first quarter. BlackRock Inc. now owns 7,207,371 shares of the financial services provider’s stock worth $281,015,000 after buying an additional 7,192,784 shares in the last quarter. State Street Corp boosted its stake in Columbia Banking System by 74.9% in the first quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock worth $107,399,000 after buying an additional 1,179,254 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Columbia Banking System by 109.9% in the first quarter. Neuberger Berman Group LLC now owns 1,302,419 shares of the financial services provider’s stock worth $50,781,000 after buying an additional 681,910 shares in the last quarter. Norges Bank bought a new stake in Columbia Banking System during the fourth quarter worth about $18,717,000. Finally, Tributary Capital Management LLC bought a new stake in Columbia Banking System during the second quarter worth about $12,655,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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