Columbia Banking System, Inc. (NASDAQ:COLB) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Columbia Banking System has a consensus analyst rating of “Hold” from 15 brokerages, with 10 holds, four buys, and one strong buy. The average 12-month price target is about $31.73.
• The company recently beat quarterly EPS estimates, reporting $0.72 per share versus the $0.68 forecast, while revenue came in at $675 million. Revenue was up 37.9% year over year.
• Columbia Banking System also announced a quarterly dividend of $0.37 per share, payable June 15, for an annualized yield of about 5.2%. Insider activity included VP Torran B. Nixon selling 2,241 shares in March.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) has earned a consensus recommendation of "Hold" from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $31.7308.

COLB has been the topic of several research reports. Citigroup lifted their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Piper Sandler lifted their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. DA Davidson lifted their price target on shares of Columbia Banking System from $30.00 to $32.50 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. Royal Bank Of Canada lifted their price target on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Friday, January 23rd. Finally, UBS Group began coverage on shares of Columbia Banking System in a report on Tuesday, April 7th. They issued a "neutral" rating and a $30.00 target price on the stock.

Insider Activity

In other news, VP Torran B. Nixon sold 2,241 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total value of $63,308.25. Following the transaction, the vice president owned 100,469 shares in the company, valued at approximately $2,838,249.25. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 5,629 shares of company stock valued at $158,044 in the last quarter. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 794 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Columbia Banking System by 571.7% in the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider's stock worth $31,000 after purchasing an additional 949 shares during the last quarter. Horizon Investments LLC grew its holdings in shares of Columbia Banking System by 168.8% in the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider's stock worth $34,000 after purchasing an additional 773 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Columbia Banking System in the fourth quarter worth approximately $36,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Columbia Banking System in the fourth quarter worth approximately $43,000. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Performance

COLB stock opened at $28.73 on Wednesday. The company has a market capitalization of $8.32 billion, a PE ratio of 11.45 and a beta of 0.63. Columbia Banking System has a one year low of $21.91 and a one year high of $32.70. The company's 50 day moving average price is $28.30 and its two-hundred day moving average price is $28.60.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business's revenue was up 37.9% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, research analysts predict that Columbia Banking System will post 3.08 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.37 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. Columbia Banking System's dividend payout ratio (DPR) is currently 58.96%.

Columbia Banking System Company Profile

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.

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