Columbia Banking System (NASDAQ:COLB) PT Raised to $21.00 at Barclays

Columbia Banking System (NASDAQ:COLB) had its price target lifted by Barclays from $20.00 to $21.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on COLB. Wedbush restated a neutral rating and issued a $20.00 target price on shares of Columbia Banking System in a research report on Friday. Royal Bank of Canada lowered their target price on Columbia Banking System from $25.00 to $21.00 and set a sector perform rating on the stock in a report on Tuesday, April 9th. Keefe, Bruyette & Woods cut their price target on shares of Columbia Banking System from $25.00 to $23.00 and set a market perform rating for the company in a report on Friday, April 5th. Truist Financial reduced their price objective on shares of Columbia Banking System from $22.00 to $20.00 and set a hold rating for the company in a research report on Monday, April 1st. Finally, TheStreet downgraded shares of Columbia Banking System from a b- rating to a c+ rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Columbia Banking System currently has a consensus rating of Hold and an average price target of $22.19.

Columbia Banking System Stock Down 0.8 %

Shares of NASDAQ COLB opened at $18.97 on Friday. The stock has a market cap of $3.97 billion, a P/E ratio of 8.14 and a beta of 0.71. The firm’s 50-day simple moving average is $18.52 and its 200 day simple moving average is $21.15. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.11.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. Columbia Banking System’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts anticipate that Columbia Banking System will post 2.25 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.59%. The ex-dividend date of this dividend was Thursday, February 22nd. Columbia Banking System’s payout ratio is 61.80%.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, insider Aaron James Deer bought 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $19.32 per share, with a total value of $38,640.00. Following the completion of the transaction, the insider now directly owns 36,850 shares in the company, valued at approximately $711,942. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Aaron James Deer purchased 2,000 shares of Columbia Banking System stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $19.32 per share, with a total value of $38,640.00. Following the completion of the transaction, the insider now directly owns 36,850 shares of the company’s stock, valued at $711,942. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luis Machuca purchased 4,889 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were bought at an average price of $20.58 per share, with a total value of $100,615.62. Following the completion of the acquisition, the director now owns 60,835 shares of the company’s stock, valued at approximately $1,251,984.30. The disclosure for this purchase can be found here. Insiders have bought a total of 9,574 shares of company stock valued at $188,874 in the last three months. 0.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbia Banking System

Several institutional investors and hedge funds have recently modified their holdings of COLB. Keeley Teton Advisors LLC boosted its position in Columbia Banking System by 11.0% during the third quarter. Keeley Teton Advisors LLC now owns 405,480 shares of the financial services provider’s stock valued at $8,231,000 after purchasing an additional 40,215 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Columbia Banking System by 1,633.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock valued at $25,936,000 after buying an additional 1,203,933 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Columbia Banking System by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock valued at $79,980,000 after buying an additional 967,009 shares in the last quarter. First Hawaiian Bank increased its holdings in Columbia Banking System by 12.3% in the fourth quarter. First Hawaiian Bank now owns 20,062 shares of the financial services provider’s stock worth $535,000 after buying an additional 2,200 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Columbia Banking System by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 146,066 shares of the financial services provider’s stock valued at $3,910,000 after acquiring an additional 25,771 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

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.