Columbia Banking System (NASDAQ:COLB) Price Target Cut to $27.00 by Analysts at Barclays

Columbia Banking System (NASDAQ:COLB - Free Report) had its target price lowered by Barclays from $32.00 to $27.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider's stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Royal Bank Of Canada dropped their price target on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of Columbia Banking System from $26.50 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. DA Davidson raised their price target on shares of Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Finally, Piper Sandler dropped their price target on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Columbia Banking System currently has a consensus rating of "Hold" and a consensus target price of $28.79.

Columbia Banking System Trading Down 1.1%

COLB traded down $0.27 on Tuesday, hitting $24.92. 1,838,227 shares of the company's stock were exchanged, compared to its average volume of 1,818,968. The firm has a market cap of $5.24 billion, a PE ratio of 10.57 and a beta of 0.62. Columbia Banking System has a twelve month low of $19.61 and a twelve month high of $32.85. The stock has a fifty day moving average of $23.87 and a two-hundred day moving average of $24.98.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. Columbia Banking System's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts predict that Columbia Banking System will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.78%. The ex-dividend date was Friday, May 30th. Columbia Banking System's dividend payout ratio (DPR) is presently 61.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COLB. Aster Capital Management DIFC Ltd acquired a new position in Columbia Banking System in the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in Columbia Banking System in the fourth quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its position in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock worth $30,000 after buying an additional 794 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Columbia Banking System in the first quarter worth approximately $37,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Columbia Banking System in the fourth quarter worth approximately $42,000. 92.53% of the stock is currently owned by institutional investors.

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.