Columbia Banking System, Inc. (NASDAQ:COLB) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst consensus is “Hold”: Eight of 13 analysts rate Columbia Banking System a hold, while five recommend buying; the average 12-month price target is $33.83 versus a share price of $29.90.
• Quarterly earnings exceeded expectations: The company reported $0.76 in quarterly EPS, beating the $0.73 consensus estimate, although revenue of $677 million came in below expectations.
• Dividend yield is approximately 4.9%: Columbia Banking System pays a quarterly dividend of $0.37, or $1.48 annualized, with a 58.96% payout ratio; institutional investors own 92.53% of the stock.

Shares of Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) have earned an average recommendation of "Hold" from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $33.8333.

Several research firms have commented on COLB. Keefe, Bruyette & Woods boosted their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Stephens lifted their target price on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Royal Bank Of Canada upped their price objective on Columbia Banking System from $34.00 to $35.00 and gave the company a "sector perform" rating in a research note on Friday, July 24th. Fundamental Research set a $35.00 target price on shares of Columbia Banking System in a research note on Wednesday, July 1st. Finally, Zacks Research raised Columbia Banking System from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st.

Columbia Banking System Trading Down 0.1%

Shares of COLB opened at $29.90 on Tuesday. Columbia Banking System has a 12-month low of $23.83 and a 12-month high of $33.67. The firm has a market capitalization of $8.46 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.96 and a beta of 0.62. The firm has a 50-day moving average price of $31.14 and a 200 day moving average price of $29.96.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $677.00 million for the quarter, compared to analysts' expectations of $687.40 million. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities research analysts predict that Columbia Banking System will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.48 annualized dividend and a yield of 4.9%. Columbia Banking System's dividend payout ratio is 58.96%.

Hedge Funds Weigh In On Columbia Banking System

Institutional investors and hedge funds have recently modified their holdings of the company. Quad Cities Investment Group LLC grew its stake in shares of Columbia Banking System by 0.7% in the second quarter. Quad Cities Investment Group LLC now owns 45,802 shares of the financial services provider's stock valued at $1,468,000 after buying an additional 331 shares in the last quarter. Hilton Head Capital Partners LLC grew its holdings in Columbia Banking System by 25.8% during the 1st quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 399 shares in the last quarter. State of Michigan Retirement System increased its stake in Columbia Banking System by 0.6% during the 1st quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider's stock worth $1,949,000 after buying an additional 400 shares during the period. Kera Capital Partners Inc. increased its stake in Columbia Banking System by 5.7% during the 1st quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider's stock worth $217,000 after buying an additional 425 shares during the period. Finally, Henshaw Capital LLC lifted its holdings in Columbia Banking System by 1.4% in the 1st quarter. Henshaw Capital LLC now owns 34,805 shares of the financial services provider's stock worth $955,000 after buying an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company's stock.

About Columbia Banking System

Columbia Banking System, Inc is a regional bank holding company headquartered in Tacoma, Washington. Through its principal subsidiary, Columbia Bank, the company provides banking and financial services to individuals, families, businesses, professionals and public-sector organizations.

Its products and services include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, lines of credit, treasury management, wealth management, mortgage services and digital banking.

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