Columbia Banking System Inc (COLB) Receives $45.33 Consensus PT from Analysts

Shares of Columbia Banking System Inc (NASDAQ:COLB) have received an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.33.

COLB has been the subject of several recent analyst reports. Piper Jaffray Companies set a $48.00 price target on Columbia Banking System and gave the company a “buy” rating in a report on Saturday, October 27th. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Monday, October 29th. Sandler O’Neill upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday. BidaskClub upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, Keefe, Bruyette & Woods upgraded Columbia Banking System from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Thursday, November 8th.

COLB traded up $0.04 during midday trading on Monday, hitting $37.58. The company’s stock had a trading volume of 10,047 shares, compared to its average volume of 285,846. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. Columbia Banking System has a 52-week low of $31.35 and a 52-week high of $48.06.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $143.82 million during the quarter, compared to analysts’ expectations of $143.24 million. Columbia Banking System had a net margin of 25.35% and a return on equity of 8.66%. Equities research analysts anticipate that Columbia Banking System will post 2.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Tuesday, November 6th. Columbia Banking System’s dividend payout ratio is currently 47.49%.

In other news, EVP David C. Lawson sold 1,813 shares of Columbia Banking System stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $41.88, for a total value of $75,928.44. Following the transaction, the executive vice president now directly owns 15,460 shares of the company’s stock, valued at approximately $647,464.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COLB. Principal Financial Group Inc. lifted its stake in shares of Columbia Banking System by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 645,287 shares of the financial services provider’s stock valued at $27,070,000 after purchasing an additional 16,111 shares in the last quarter. Ramsey Quantitative Systems lifted its stake in shares of Columbia Banking System by 176.7% in the 2nd quarter. Ramsey Quantitative Systems now owns 15,421 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 9,848 shares in the last quarter. Tributary Capital Management LLC lifted its stake in shares of Columbia Banking System by 9.7% in the 2nd quarter. Tributary Capital Management LLC now owns 362,890 shares of the financial services provider’s stock valued at $14,842,000 after purchasing an additional 31,962 shares in the last quarter. Security National Bank lifted its stake in shares of Columbia Banking System by 2.2% in the 2nd quarter. Security National Bank now owns 70,935 shares of the financial services provider’s stock valued at $2,901,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Piedmont Investment Advisors LLC lifted its stake in shares of Columbia Banking System by 9.3% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 17,065 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 1,453 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Banking System

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 Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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