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

Columbia Banking System, Inc. (NASDAQ:COLB) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.8846.

A number of research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and set a $33.00 price target on shares of Columbia Banking System in a research report on Wednesday, February 4th. Barclays boosted their price target on shares of 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. Piper Sandler increased their price objective on shares of Columbia Banking System from $34.50 to $36.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Banking System in a research note on Monday, December 29th. Finally, DA Davidson upped their target price on Columbia Banking System from $30.00 to $32.50 and gave the stock a “neutral” rating in a research report on Friday, January 23rd.

Insiders Place Their Bets

In other news, Director Steven R. Gardner sold 13,725 shares of Columbia Banking System stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $29.43, for a total value of $403,926.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. True Wealth Design LLC raised its position in shares of Columbia Banking System by 612.8% during the third quarter. True Wealth Design LLC now owns 1,005 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 864 shares during the period. West Oak Capital LLC acquired a new position in shares of Columbia Banking System in the third quarter worth about $28,000. Quent Capital LLC purchased a new position in shares of Columbia Banking System in the third quarter worth approximately $29,000. Geneos Wealth Management Inc. raised its holdings in shares of Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 794 shares during the period. Finally, First Horizon Corp purchased a new stake in shares of Columbia Banking System in the 3rd quarter valued at approximately $31,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $31.49 on Monday. The firm has a market capitalization of $9.42 billion, a P/E ratio of 13.93 and a beta of 0.61. The company has a 50-day simple moving average of $29.31 and a 200-day simple moving average of $27.29. Columbia Banking System has a one year low of $19.61 and a one year 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, topping the consensus estimate of $0.72 by $0.10. The firm had revenue of $715.00 million during the quarter, compared to analysts’ expectations of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, February 27th. Columbia Banking System’s payout ratio is presently 65.49%.

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.