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

Shares of Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) have earned a consensus rating of "Hold" from the fourteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $33.3462.

COLB has been the subject of several analyst reports. Zacks Research lowered Columbia Banking System from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Stephens boosted their target price on Columbia Banking System from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $34.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. JPMorgan Chase & Co. increased their price target on Columbia Banking System from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada raised their price target on Columbia Banking System from $34.00 to $35.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th.

Insider Activity at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares in the company, valued at $554,793.72. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COLB. BlackRock Inc. acquired a new stake in shares of Columbia Banking System during the second quarter worth $880,443,000. California State Teachers Retirement System grew its holdings in shares of Columbia Banking System by 2,897.1% during the second quarter. California State Teachers Retirement System now owns 10,763,896 shares of the financial services provider's stock valued at $335,847,000 after buying an additional 10,404,753 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Columbia Banking System by 135.2% in the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider's stock valued at $354,754,000 after acquiring an additional 7,921,303 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Columbia Banking System by 140.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider's stock valued at $242,237,000 after acquiring an additional 5,063,212 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Columbia Banking System in the 2nd quarter worth $120,867,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Stock Down 0.1%

NASDAQ COLB opened at $30.69 on Friday. Columbia Banking System has a 52 week low of $23.83 and a 52 week high of $33.67. The company has a 50 day moving average price of $31.71 and a 200 day moving average price of $30.04. The firm has a market cap of $8.68 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 3.04 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. During the same period last year, the firm earned $0.76 earnings per share. On average, equities research analysts anticipate that Columbia Banking System will post 3.03 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, August 28th. Columbia Banking System's dividend payout ratio (DPR) is presently 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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