Columbia Banking System (NASDAQ:COLB) Upgraded at StockNews.com

StockNews.com upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued reports about the company. Wedbush raised Columbia Banking System from a neutral rating to an outperform rating and raised their price objective for the stock from $28.00 to $31.00 in a research report on Tuesday. Stephens raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an equal weight rating in a report on Friday, July 26th. Piper Sandler restated an overweight rating and set a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Wells Fargo & Company raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an equal weight rating in a report on Friday, July 26th. Finally, Barclays raised their target price on Columbia Banking System from $21.00 to $24.00 and gave the company an equal weight rating in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $25.50.

Columbia Banking System Trading Down 0.0 %

Shares of NASDAQ:COLB opened at $25.96 on Wednesday. The business has a 50-day moving average price of $24.51 and a 200 day moving average price of $21.11. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 11.14 and a beta of 0.64. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $28.11.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. As a group, equities research analysts predict that Columbia Banking System will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.55%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s payout ratio is 61.80%.

Institutional Investors Weigh In On Columbia Banking System

Institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management purchased a new stake in Columbia Banking System during the first quarter worth approximately $2,850,000. BNP Paribas Financial Markets lifted its stake in Columbia Banking System by 185.1% during the first quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider’s stock worth $3,363,000 after purchasing an additional 112,826 shares during the last quarter. First Hawaiian Bank lifted its stake in Columbia Banking System by 81.4% during the second quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 23,597 shares during the last quarter. Vanguard Group Inc. lifted its stake in Columbia Banking System by 2.6% during the first quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock worth $432,041,000 after purchasing an additional 574,509 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Columbia Banking System by 7.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,374 shares of the financial services provider’s stock worth $8,135,000 after purchasing an additional 29,728 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

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.