Columbia Banking System (NASDAQ:COLB) Raised to “Hold” at StockNews.com

Columbia Banking System (NASDAQ:COLB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts also recently issued reports on COLB. Truist Financial cut their price target on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Royal Bank of Canada lifted their target price on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays increased their price target on shares of Columbia Banking System from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Stephens lifted their price objective on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Columbia Banking System has a consensus rating of “Hold” and an average price target of $25.88.

Columbia Banking System Trading Up 1.3 %

Shares of Columbia Banking System stock opened at $25.67 on Friday. The company has a 50-day moving average of $24.62 and a two-hundred day moving average of $21.37. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $28.11. The stock has a market cap of $5.37 billion, a PE ratio of 11.02 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data 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. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. Columbia Banking System’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. On average, sell-side analysts forecast that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Institutional Trading of Columbia Banking System

Hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in shares of Columbia Banking System by 43.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 57,421 shares of the financial services provider’s stock valued at $1,499,000 after acquiring an additional 17,500 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of Columbia Banking System in the second quarter worth approximately $252,000. Cetera Investment Advisers grew its holdings in Columbia Banking System by 135.8% in the second quarter. Cetera Investment Advisers now owns 111,009 shares of the financial services provider’s stock valued at $2,208,000 after purchasing an additional 63,932 shares during the period. Creative Planning increased its position in Columbia Banking System by 39.2% during the second quarter. Creative Planning now owns 42,063 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 11,836 shares during the last quarter. Finally, Algert Global LLC raised its stake in Columbia Banking System by 6.2% during the second quarter. Algert Global LLC now owns 321,874 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 18,708 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

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.