Columbia Banking System (NASDAQ:COLB) Coverage Initiated at UBS Group

Research analysts at UBS Group assumed coverage on shares of Columbia Banking System (NASDAQ:COLB) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $32.00 price target on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 19.40% from the company’s previous close.

Several other research analysts have also recently commented on COLB. Royal Bank of Canada upped their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company lifted their target price on Columbia Banking System from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Barclays increased their price target on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Columbia Banking System currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Columbia Banking System Trading Down 6.4 %

Shares of NASDAQ COLB opened at $26.80 on Tuesday. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 11.60 and a beta of 0.64. The stock’s 50 day simple moving average is $29.43 and its 200 day simple moving average is $25.14. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same period last year, the business posted $0.79 earnings per share. As a group, equities analysts forecast that Columbia Banking System will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COLB. Tidal Investments LLC boosted its stake in shares of Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 464 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Columbia Banking System in the 3rd quarter valued at $288,000. M&T Bank Corp boosted its position in shares of Columbia Banking System by 17.0% in the 3rd quarter. M&T Bank Corp now owns 11,859 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 1,727 shares during the period. Orion Portfolio Solutions LLC increased its stake in Columbia Banking System by 8.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 27,607 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 2,072 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Columbia Banking System during the 3rd quarter worth about $1,365,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Company Profile

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.