Columbia Banking System, Inc. (NASDAQ:COLB) Receives $22.19 Average Price Target from Analysts

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) has been given an average rating of "Hold" by the thirteen analysts that are currently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $22.19.

Several research analysts have recently weighed in on COLB shares. Royal Bank of Canada decreased their target price on shares of Columbia Banking System from $25.00 to $21.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 9th. DA Davidson lowered their target price on Columbia Banking System from $25.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods cut their price target on Columbia Banking System from $25.00 to $23.00 and set a "market perform" rating on the stock in a research note on Friday, April 5th. StockNews.com downgraded Columbia Banking System from a "hold" rating to a "sell" rating in a report on Tuesday, March 12th. Finally, Truist Financial dropped their price objective on Columbia Banking System from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, April 1st.

Columbia Banking System Trading Down 0.8 %

Shares of COLB traded down $0.16 during midday trading on Tuesday, reaching $18.81. 2,592,452 shares of the company were exchanged, compared to its average volume of 2,888,236. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $28.11. The stock has a 50-day moving average price of $18.52 and a 200-day moving average price of $21.15. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 8.07 and a beta of 0.71.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The business had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. During the same period last year, the business posted $0.46 EPS. The company's revenue was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Columbia Banking System will post 2.25 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 23rd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 7.66%. The ex-dividend date of this dividend was Thursday, February 22nd. Columbia Banking System's dividend payout ratio is currently 61.80%.

Insider Buying and Selling at Columbia Banking System

In related news, insider Aaron James Deer acquired 2,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $19.32 per share, for a total transaction of $38,640.00. Following the completion of the purchase, the insider now directly owns 36,850 shares in the company, valued at $711,942. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the business's stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $18.48 per share, for a total transaction of $49,618.80. Following the completion of the transaction, the director now directly owns 25,001 shares of the company's stock, valued at approximately $462,018.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron James Deer purchased 2,000 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $19.32 per share, with a total value of $38,640.00. Following the completion of the purchase, the insider now owns 36,850 shares in the company, valued at approximately $711,942. The disclosure for this purchase can be found here. Insiders have acquired 9,574 shares of company stock valued at $188,874 in the last quarter. Corporate insiders own 0.59% of the company's stock.

Institutional Trading of Columbia Banking System

Several institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Columbia Banking System by 1,506.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,326 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Columbia Banking System by 113.4% in the first quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider's stock valued at $38,000 after buying an additional 1,047 shares in the last quarter. First Pacific Financial acquired a new stake in shares of Columbia Banking System during the 4th quarter valued at $40,000. Headlands Technologies LLC bought a new stake in shares of Columbia Banking System during the 4th quarter worth $42,000. Finally, GAMMA Investing LLC bought a new stake in shares of Columbia Banking System during the 4th quarter worth $48,000. Institutional investors and hedge funds 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.