Stephens Boosts Columbia Banking System (NASDAQ:COLB) Price Target to $26.00

Columbia Banking System (NASDAQ:COLB) had its target price boosted by Stephens from $22.00 to $26.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Wedbush increased their target price on shares of Columbia Banking System from $20.00 to $25.00 and gave the company a neutral rating in a research report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a market perform rating in a report on Friday. Piper Sandler reaffirmed an overweight rating and set a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Royal Bank of Canada lifted their price target on Columbia Banking System from $21.00 to $26.00 and gave the stock a sector perform rating in a research note on Friday. Finally, Truist Financial cut 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. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $23.81.

Columbia Banking System Trading Up 11.6 %

COLB opened at $26.99 on Friday. The business’s 50 day moving average is $20.14 and its 200-day moving average is $19.80. The stock has a market cap of $5.65 billion, a PE ratio of 11.58 and a beta of 0.66. Columbia Banking System has a twelve month low of $17.08 and a twelve month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.95% and a net margin of 15.94%. The firm had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. During the same quarter in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts forecast that Columbia Banking System will post 2.45 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.34%. Columbia Banking System’s dividend payout ratio is 61.80%.

Institutional Trading of Columbia Banking System

A number of institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in shares of Columbia Banking System by 17.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 595 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Columbia Banking System by 0.3% in the first quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock worth $5,068,000 after buying an additional 700 shares during the last quarter. Essex Financial Services Inc. increased its holdings in Columbia Banking System by 3.8% in the first quarter. Essex Financial Services Inc. now owns 19,580 shares of the financial services provider’s stock worth $379,000 after buying an additional 725 shares during the last quarter. Caprock Group LLC raised its position in Columbia Banking System by 2.3% during the fourth quarter. Caprock Group LLC now owns 34,684 shares of the financial services provider’s stock valued at $925,000 after acquiring an additional 781 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Columbia Banking System by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 92,202 shares of the financial services provider’s stock valued at $2,460,000 after acquiring an additional 900 shares during the last quarter. 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.