Columbia Banking System (NASDAQ:COLB – Get Free Report) had its price objective upped by stock analysts at Raymond James from $26.00 to $28.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ target price points to a potential upside of 10.50% from the company’s previous close.
Several other research firms have also commented on COLB. Royal Bank of Canada boosted their price target on Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on Columbia Banking System from $22.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $27.00 price target on shares of Columbia Banking System in a research report on Wednesday, June 5th. Stephens boosted their price target on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company boosted their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average price target of $25.88.
Check Out Our Latest Stock Analysis on Columbia Banking System
Columbia Banking System Stock Up 0.0 %
Columbia Banking System (NASDAQ:COLB – Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. Columbia Banking System’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. Equities analysts anticipate that Columbia Banking System will post 2.55 EPS for the current fiscal year.
Hedge Funds Weigh In On Columbia Banking System
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after acquiring an additional 574,509 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Columbia Banking System by 6.7% during the second quarter. American Century Companies Inc. now owns 6,191,704 shares of the financial services provider’s stock valued at $123,153,000 after acquiring an additional 386,751 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Columbia Banking System by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 4,718,494 shares of the financial services provider’s stock valued at $93,851,000 after acquiring an additional 23,963 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Columbia Banking System by 16.2% in the fourth quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock valued at $122,158,000 after purchasing an additional 637,212 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of Columbia Banking System by 21.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after purchasing an additional 788,383 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.
Columbia Banking System Company Profile
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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