Columbia Banking System, Inc. (NASDAQ:COLB) Receives $32.19 Consensus PT from Analysts

Columbia Banking System, Inc. (NASDAQ:COLB) has received a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.8846.

Several research analysts have recently issued reports on COLB shares. UBS Group reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Columbia Banking System in a research report on Wednesday, February 4th. Barclays raised their target price on Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Stephens upped their price target on Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. TD Cowen reiterated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Columbia Banking System from a “hold” rating to a “buy” rating in a report on Saturday, March 14th.

Columbia Banking System Trading Down 0.7%

Shares of COLB stock opened at $27.73 on Tuesday. The firm has a fifty day moving average price of $28.93 and a 200 day moving average price of $27.84. The company has a market cap of $8.04 billion, a P/E ratio of 12.27 and a beta of 0.61. Columbia Banking System has a 12 month low of $19.61 and a 12 month high of $32.70.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.The firm had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities analysts forecast that Columbia Banking System will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, February 27th. Columbia Banking System’s dividend payout ratio (DPR) is 65.49%.

Insider Buying and Selling at Columbia Banking System

In related news, VP Torran B. Nixon sold 2,240 shares of Columbia Banking System stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.85, for a total transaction of $64,624.00. Following the sale, the vice president directly owned 98,229 shares in the company, valued at $2,833,906.65. This trade represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven R. Gardner sold 13,725 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $29.43, for a total transaction of $403,926.75. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,354 shares of company stock worth $561,971 over the last quarter. 0.68% of the stock is owned by company insiders.

Institutional Trading of Columbia Banking System

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Columbia Banking System by 41.3% in the 3rd quarter. Vanguard Group Inc. now owns 29,851,392 shares of the financial services provider’s stock valued at $768,375,000 after purchasing an additional 8,730,937 shares during the period. Wellington Management Group LLP increased its position in Columbia Banking System by 135.2% during the third quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock worth $354,754,000 after buying an additional 7,921,303 shares during the period. Dimensional Fund Advisors LP increased its position in Columbia Banking System by 68.1% during the third quarter. Dimensional Fund Advisors LP now owns 13,116,339 shares of the financial services provider’s stock worth $337,611,000 after buying an additional 5,313,883 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Columbia Banking System by 140.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after buying an additional 5,063,212 shares during the last quarter. Finally, HoldCo Asset Management LP purchased a new stake in Columbia Banking System in the second quarter valued at approximately $104,819,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.