Barclays Issues Positive Forecast for Columbia Banking System (NASDAQ:COLB) Stock Price

by · The Markets Daily

Columbia Banking System (NASDAQ:COLB – Free Report) had its target price hoisted by Barclays from $30.00 to $32.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the company. Royal Bank Of Canada raised their price target on Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Zacks Research raised shares of Columbia Banking System from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. cut their price objective on shares of Columbia Banking System from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Stephens raised their price objective on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Finally, DA Davidson raised shares of Columbia Banking System from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $36.00 in a report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.58.

View Our Latest Analysis on Columbia Banking System

Columbia Banking System Stock Down 0.3%

Columbia Banking System stock opened at $28.84 on Monday. The company has a market capitalization of $8.16 billion, a P/E ratio of 11.49, a PEG ratio of 2.86 and a beta of 0.66. The stock’s 50 day moving average is $30.45 and its 200 day moving average is $30.10. Columbia Banking System has a twelve month low of $23.83 and a twelve month high of $33.67.

Columbia Banking System (NASDAQ:COLB – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same quarter in the previous year, the business earned $0.76 earnings per share. As a group, equities analysts expect that Columbia Banking System will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.48 annualized dividend and a dividend yield of 5.1%. Columbia Banking System’s payout ratio is presently 58.96%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in Columbia Banking System in the second quarter worth about $2,746,000. TD Asset Management Inc lifted its position in shares of Columbia Banking System by 12.0% during the 4th quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider’s stock valued at $12,911,000 after buying an additional 49,454 shares in the last quarter. Amundi lifted its position in shares of Columbia Banking System by 52.7% during the 2nd quarter. Amundi now owns 102,500 shares of the financial services provider’s stock valued at $3,285,000 after buying an additional 35,365 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Columbia Banking System by 3,617.7% during the 1st quarter. Fifth Third Bancorp now owns 75,469 shares of the financial services provider’s stock valued at $2,070,000 after acquiring an additional 73,439 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Columbia Banking System during the 2nd quarter valued at approximately $68,906,000. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Company Profile

(Get Free Report)

Columbia Banking System, Inc (NASDAQ: COLB) is a bank holding company headquartered in Tacoma, Washington. Through its subsidiary, Umpqua Bank, the company provides a range of banking and financial services to individuals, families, businesses and institutions.

Umpqua Bank’s offerings include deposit accounts, consumer and commercial lending, real estate finance, treasury management, cash management, investment services and other business banking solutions. The bank serves small and middle-market companies as well as retail customers through branches, digital banking platforms and relationship-based financial services.

Columbia Banking System traces its history to the formation of Columbia Bank in Washington in 1993.

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