StockNews.com Initiates Coverage on Columbia Banking System (NASDAQ:COLB)

StockNews.com started coverage on shares of Columbia Banking System (NASDAQ:COLB - Free Report) in a report released on Tuesday morning. The firm issued a hold rating on the financial services provider's stock.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upped their target price 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. Stephens dropped their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reduced their price target on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Finally, Barclays boosted their price objective on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $29.85.

Columbia Banking System Stock Down 0.5 %

COLB traded down $0.12 during trading on Tuesday, hitting $23.93. 1,584,470 shares of the company traded hands, compared to its average volume of 1,773,545. The stock's fifty day moving average is $23.39 and its 200 day moving average is $26.74. Columbia Banking System has a one year low of $18.11 and a one year high of $32.85. The firm has a market cap of $5.03 billion, a P/E ratio of 9.42 and a beta of 0.59.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The business had revenue of $481.92 million for the quarter, compared to analysts' expectations of $482.86 million. During the same period in the previous year, the firm earned $0.65 EPS. The business's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Columbia Banking System will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.44 annualized dividend and a yield of 6.02%. Columbia Banking System's dividend payout ratio (DPR) is currently 61.02%.

Insiders Place Their Bets

In related 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 owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.68% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Columbia Banking System in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Columbia Banking System in the fourth quarter valued at $32,000. UMB Bank n.a. grew its position in 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System during the 4th quarter valued at $42,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Columbia Banking System during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 92.53% of the company's stock.

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.