Columbia Banking System, Inc. (COLB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Columbia Banking System, Inc. (NASDAQ:COLB) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $44.25.

Several analysts recently weighed in on COLB shares. Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price objective on shares of Columbia Banking System in a research report on Friday, June 16th. Piper Jaffray Companies raised shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $42.00 price objective on shares of Columbia Banking System in a research report on Friday, September 8th.

Shares of Columbia Banking System (NASDAQ COLB) traded up 1.50% during midday trading on Wednesday, hitting $38.46. The stock had a trading volume of 118,711 shares. Columbia Banking System has a 52-week low of $31.75 and a 52-week high of $45.68. The stock has a market cap of $2.25 billion, a PE ratio of 19.53 and a beta of 1.24. The firm has a 50 day moving average price of $37.68 and a 200-day moving average price of $38.70.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. The business had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $112.27 million. During the same period last year, the business earned $0.44 earnings per share. Equities analysts predict that Columbia Banking System will post $2.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Monday, August 7th. Columbia Banking System’s dividend payout ratio (DPR) is presently 44.67%.

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Several institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Columbia Banking System by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after buying an additional 46 shares during the period. D.A. Davidson & CO. increased its position in shares of Columbia Banking System by 2.1% in the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 73 shares in the last quarter. Amalgamated Bank increased its position in shares of Columbia Banking System by 1.1% in the second quarter. Amalgamated Bank now owns 7,945 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 84 shares in the last quarter. 1st Global Advisors Inc. increased its position in shares of Columbia Banking System by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 6,179 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 85 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Columbia Banking System by 0.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 90 shares in the last quarter. 96.24% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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