StockNews.com assumed coverage on shares of Columbia Banking System (NASDAQ:COLB - Free Report) in a research report released on Tuesday morning. The firm issued a hold rating on the financial services provider's stock.
A number of other brokerages also recently commented on COLB. Citigroup decreased their target price on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, January 27th. DA Davidson set a $25.00 target price on Columbia Banking System and gave the company a "neutral" rating in a report on Thursday, April 24th. Piper Sandler decreased their target price on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada decreased their target price on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of "Hold" and a consensus target price of $29.85.
Check Out Our Latest Stock Report on Columbia Banking System
Columbia Banking System Trading Down 0.5%
COLB stock traded down $0.12 during midday trading on Tuesday, hitting $23.93. The company had a trading volume of 1,584,470 shares, compared to its average volume of 1,773,545. Columbia Banking System has a 52 week low of $18.11 and a 52 week high of $32.85. The stock's 50 day moving average price is $23.39 and its 200 day moving average price is $26.73. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 9.42 and a beta of 0.59.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $481.92 million during the quarter, compared to the consensus estimate of $482.86 million. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. Analysts predict that Columbia Banking System will post 2.71 earnings per share for the current year.
Columbia Banking System Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 6.02%. Columbia Banking System's dividend payout ratio (DPR) is 61.02%.
Insider Transactions at Columbia Banking System
In other news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the sale, the vice president now directly owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company's stock.
Institutional Investors Weigh In On Columbia Banking System
Institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Columbia Banking System in the fourth quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Columbia Banking System in the fourth quarter worth $32,000. UMB Bank n.a. grew its stake in shares of Columbia Banking System by 141.3% in the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock worth $41,000 after acquiring an additional 958 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Columbia Banking System in the fourth quarter worth $42,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Columbia Banking System in the fourth quarter worth $42,000. 92.53% of the stock is owned by hedge funds and other institutional investors.
Columbia Banking System Company Profile
(
Get Free Report)
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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