Columbia Banking System (NASDAQ:COLB) Upgraded to Outperform at Keefe, Bruyette & Woods

Key Points

• Columbia Banking System has received an upgrade from Keefe, Bruyette & Woods, raising its rating from "market perform" to "outperform" with a target price of $31.00, suggesting a potential upside of 20.81% from its current price.
• Other firms have also increased their target prices for Columbia Banking System, with Piper Sandler raising it from $32.00 to $35.00 and Raymond James increasing it from $27.00 to $31.00, reflecting growing confidence in the stock.
• Institutional investors hold 92.53% of Columbia Banking System's stock, indicating strong institutional support and interest in the company's performance.

Columbia Banking System (NASDAQ:COLB - Get Free Report) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a note issued to investors on Friday, MarketBeat reports. The firm currently has a $31.00 target price on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 20.81% from the company's current price.

Several other brokerages also recently commented on COLB. Piper Sandler lifted their target price on shares of Columbia Banking System from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wells Fargo & Company raised their price target on shares of Columbia Banking System from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Cowen assumed coverage on shares of Columbia Banking System in a research note on Wednesday, September 24th. They set a "hold" rating for the company. Raymond James Financial raised Columbia Banking System from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $27.00 to $31.00 in a research note on Monday, September 15th. Finally, Zacks Research lowered Columbia Banking System from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, Columbia Banking System presently has an average rating of "Hold" and an average target price of $29.33.

Columbia Banking System Stock Up 0.1%

Columbia Banking System stock opened at $25.66 on Friday. Columbia Banking System has a 52 week low of $19.61 and a 52 week high of $32.85. The business has a 50-day simple moving average of $25.90 and a 200 day simple moving average of $24.38. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 10.18 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The firm had revenue of $348.47 million during the quarter. On average, research analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in Columbia Banking System by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 12,742,629 shares of the financial services provider's stock valued at $317,802,000 after buying an additional 116,795 shares in the last quarter. State Street Corp increased its position in Columbia Banking System by 0.6% during the 2nd quarter. State Street Corp now owns 10,117,111 shares of the financial services provider's stock valued at $236,538,000 after buying an additional 64,096 shares in the last quarter. American Century Companies Inc. increased its position in Columbia Banking System by 18.3% during the 2nd quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider's stock valued at $209,220,000 after buying an additional 1,381,597 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Columbia Banking System by 2.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,816,989 shares of the financial services provider's stock valued at $182,761,000 after buying an additional 149,718 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Columbia Banking System by 11.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,606,146 shares of the financial services provider's stock valued at $154,452,000 after buying an additional 658,196 shares in the last quarter. 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.

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