Columbia Banking System, Inc. (NASDAQ:COLB) Receives $29.07 Consensus Target Price from Analysts

Key Points

• Columbia Banking System, Inc. has received a consensus rating of "Hold" from fifteen analysts, with an average price target of $29.07.
• The company reported earnings of $0.76 per share for the last quarter, exceeding estimates of $0.66, and showing an 8.2% increase in revenue year-over-year.
• Columbia Banking System recently declared a quarterly dividend of $0.36 per share with a dividend yield of 5.5%.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) has received an average recommendation of "Hold" from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $29.3571.

A number of brokerages recently weighed in on COLB. Wall Street Zen began coverage on Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. JPMorgan Chase & Co. cut their price objective on 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 objective on Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Stephens raised Columbia Banking System from an "equal weight" rating to an "overweight" rating and set a $30.00 price objective on the stock in a research note on Monday, August 4th. Finally, Piper Sandler raised their price objective on Columbia Banking System from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COLB. HoldCo Asset Management LP acquired a new position in shares of Columbia Banking System during the second quarter worth approximately $104,819,000. JPMorgan Chase & Co. lifted its holdings in shares of Columbia Banking System by 221.3% during the first quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider's stock worth $148,342,000 after buying an additional 4,096,733 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Columbia Banking System by 18.3% during the second quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider's stock worth $209,220,000 after buying an additional 1,381,597 shares during the last quarter. Norges Bank acquired a new position in shares of Columbia Banking System during the second quarter worth approximately $23,813,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Columbia Banking System by 18.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider's stock worth $162,791,000 after buying an additional 1,012,796 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Price Performance

Shares of COLB stock traded up $0.46 during trading on Friday, reaching $25.82. The company had a trading volume of 4,008,411 shares, compared to its average volume of 5,621,462. The firm's 50 day simple moving average is $25.33 and its two-hundred day simple moving average is $24.24. Columbia Banking System has a one year low of $19.61 and a one year high of $32.85. The company has a market capitalization of $5.43 billion, a PE ratio of 10.25 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.10. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The business had revenue of $511.55 million for the quarter, compared to the consensus estimate of $492.00 million. During the same period last year, the business earned $0.67 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. Analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.6%. Columbia Banking System's payout ratio is 57.14%.

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.