Columbia Banking System - COLB Stock Forecast, Price & News

Columbia Banking System, Inc. operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services. The company also provides business banking products and services, such as checking, savings, interest-bearing money market, and certificate of deposit accounts; agricultural, asset-based, builder, and other commercial real estate loans, as well as loans guaranteed by the small business administration; and professional banking, treasury management, merchant card, and international banking services. In addition, it offers wealth management solutions that include financial planning services, such as asset allocation, net worth analysis, estate planning and preservation, education funding, and wealth transfer; long-term care, and life and disability insurance solutions; individual retirement solutions comprising retirement planning, retirement income strategies, and traditional and Roth individual retirement accounts; and business solutions, which comprise business retirement plans, key person insurance, business succession planning, and deferred compensation plans to individuals, families, and professional businesses. Further, the company provides fiduciary, investment, and administrative trust services, such as personal and special needs trusts, estate settlement, and investment agency and charitable management. It operates a network of 153 branch locations, including 68 in the state of Washington, 59 in Oregon, 15 in Idaho, and 11 in California. The company was founded in 1993 and is headquartered in Tacoma, Washington.

Columbia Banking System Trading Up 2.1 %

Shares of NASDAQ:COLB opened at $30.15 on Monday. The firm has a market capitalization of $2.37 billion, a PE ratio of 10.85 and a beta of 0.67. Columbia Banking System has a 1 year low of $26.97 and a 1 year high of $40.78. The firm's 50-day moving average is $29.29 and its 200-day moving average is $31.46.

Columbia Banking System (NASDAQ:COLB - Get Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, equities research analysts anticipate that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.98%. The ex-dividend date is Tuesday, August 2nd. Columbia Banking System's payout ratio is 43.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COLB shares. Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Friday, April 22nd. Raymond James decreased their price objective on shares of Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating on the stock in a report on Thursday, July 7th. Finally, Piper Sandler decreased their price objective on shares of Columbia Banking System from $35.00 to $31.00 in a report on Monday, May 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $34.80.

Insider Buying and Selling

In other news, Director Craig D. Eerkes acquired 1,694 shares of Columbia Banking System stock in a transaction that occurred on Friday, June 10th. The shares were acquired at an average price of $28.52 per share, with a total value of $48,312.88. Following the purchase, the director now directly owns 20,227 shares of the company's stock, valued at $576,874.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 2,713 shares of company stock valued at $74,593 in the last 90 days. 0.62% of the stock is owned by insiders.