Columbia Banking System, Inc. (NASDAQ:COLB) Given Consensus Rating of "Hold" by Brokerages

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) has earned an average rating of "Hold" from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.79.

Several analysts have issued reports on the company. 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 report on Tuesday, July 1st. Keefe, Bruyette & Woods cut their price objective on Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen assumed coverage on Columbia Banking System in a report on Thursday, May 22nd. They set a "hold" rating on the stock. Wells Fargo & Company downgraded Columbia Banking System from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, July 10th. Finally, Piper Sandler cut their price objective on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, April 28th.

Columbia Banking System Stock Down 4.2%

Columbia Banking System stock traded down $1.03 during midday trading on Thursday, hitting $23.35. The company's stock had a trading volume of 3,196,787 shares, compared to its average volume of 2,417,736. The stock's 50-day moving average price is $23.85 and its 200-day moving average price is $24.77. Columbia Banking System has a 12 month low of $19.61 and a 12 month high of $32.85. The company has a market capitalization of $4.91 billion, a PE ratio of 9.89 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.66 by $0.10. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. During the same period in the previous year, the firm earned $0.67 EPS. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Columbia Banking System will post 2.71 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.36 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.17%. Columbia Banking System's payout ratio is 61.02%.

Institutional Investors Weigh In On Columbia Banking System

Large investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Columbia Banking System during the fourth quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its position in 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 worth $30,000 after purchasing an additional 794 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Columbia Banking System during the first quarter worth approximately $37,000. UMB Bank n.a. boosted its position in Columbia Banking System by 141.3% during the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock worth $41,000 after purchasing an additional 958 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Columbia Banking System during the fourth quarter worth approximately $42,000. 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.