Columbia Banking System, Inc. (NASDAQ: COLB) Receives Consensus Analyst ‘Custody’ Rating


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Columbia Banking System, Inc. (NASDAQ: COLB) received an average recommendation of “Hold” from the seven research companies that currently cover the company, reports Marketbeat Ratings. Five equity research analysts rated the stock with a conservation rating and two gave the company a buy rating. The 1-year average price target among brokers who issued ratings on the stock in the past year is $ 40.17.

Several brokerage firms weighed on COLB. Stephens lowered his target price on Columbia Banking System stock from $ 40.00 to $ 32.00 and set an “equal weight” rating on the stock in a research report released on Wednesday, October 13. Raymond James lowered his target price on Columbia Banking System stocks from $ 43.00 to $ 40.00 and established an “outperformance” rating on the stock in a research report released on Monday, November 1. Zacks investment research downgraded Columbia Banking System shares from a “buy” rating to a “custody” rating in a research report on Monday, October 11. Royal Bank of Canada lowered its target price on Columbia Banking System shares from $ 42.00 to $ 38.00 and established a “sector performance” rating on the stock in a research report released on Wednesday the 13th. October. Finally, DA Davidson upgraded Columbia Banking System shares from a “neutral” rating to a “buy” rating and increased its target price for the stock from $ 39.00 to $ 41.00 in a report. research published on Wednesday, October 13.

The NASDAQ COLB opened at $ 31.29 on Friday. The stock has a market cap of $ 2.46 billion, a P / E ratio of 10.23 and a beta of 0.76. Columbia Banking System has a 52 week low of $ 30.55 and a 52 week high of $ 50.68. The company has a 50-day moving average price of $ 35.15 and a 200-day moving average price of $ 36.55.

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Columbia Banking System (NASDAQ: COLB) last released its quarterly results on Wednesday, October 27. The financial services provider reported earnings per share (EPS) of $ 0.74 for the quarter, beating the consensus estimate of $ 0.71 by $ 0.03. The company posted revenue of $ 132.54 million in the quarter, compared to $ 150.88 million expected by analysts. Columbia Banking System had a net margin of 35.50% and a return on equity of 9.41%. The company’s revenue for the quarter increased 13.0% year-over-year. During the same period of the previous year, the company posted earnings per share of $ 0.63. On average, equity research analysts predict that Columbia Banking System will post earnings per share of 2.85 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 27. Investors of record on Tuesday, October 12, received a dividend of $ 0.30 per share. This represents an annualized dividend of $ 1.20 and a dividend yield of 3.84%. The ex-dividend date was Monday October 11. Columbia Banking System’s payout ratio is 39.22%.

In other news, Director Tom Hulbert acquired 11,073 shares of Columbia Banking System in a transaction that took place on Friday, November 26. The shares were purchased at an average price of $ 32.21 per share, for a total value of $ 356,661.33. The transaction was disclosed in a file with the Securities & Exchange Commission, which can be accessed via the SEC website. Company insiders own 0.57% of the company’s shares.

Several institutional investors and hedge funds have recently changed their positions in the title. Goldman Sachs Group Inc. increased its stake in Columbia Banking System by 19.5% during the third quarter. Goldman Sachs Group Inc. now owns 2,782,593 shares of the financial services provider valued at $ 105,711,000 after purchasing an additional 453,962 shares during the period. State Street Corp increased its stake in Columbia Banking System by 9.7% during the second quarter. State Street Corp now owns 3,770,434 shares of the financial services provider worth $ 145,388,000 after purchasing an additional 333,789 shares during the period. Bank of New York Mellon Corp increased its stake in Columbia Banking System by 19.9% ​​during the third quarter. Bank of New York Mellon Corp now owns 1,627,370 shares of the financial services provider valued at $ 61,824,000 after purchasing an additional 270,428 shares during the period. The Manufacturers Life Insurance Company increased its stake in Columbia Banking System to 64.5% during the third quarter. The Manufacturers Life Insurance Company now owns 570,221 shares of the financial services provider valued at $ 21,663,000 after purchasing an additional 223,664 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Columbia Banking System by 9.3% during the third quarter. Victory Capital Management Inc. now owns 2,547,074 shares of the financial services provider valued at $ 96,763,000 after purchasing an additional 215,749 shares during the period. 90.24% of the shares are currently held by institutional investors and hedge funds.

About the Columbia Banking System

Columbia Banking System, Inc. is a banking holding company that provides financial services. She specializes in the management of individuals, businesses and assets. It offers checking and savings accounts; debit and credit cards; digital bank; personal loans; real estate loans; foreign currency; professional bank; finance management; merchant card services; international bank; financial services; private banking; and trust and investment services.

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Analyst Recommendations for Columbia Banking System (NASDAQ: COLB)

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