Columbia Banking System, Inc. (NASDAQ:COLB)‘s stock had its “hold” rating reiterated by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, May 9th. They presently have a $44.00 target price on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 7.95% from the stock’s previous close.
Several other brokerages have also commented on COLB. Zacks Investment Research lowered Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Piper Jaffray Companies dropped their price objective on Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. Finally, DA Davidson raised Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, March 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.20.
Columbia Banking System (COLB) opened at 40.76 on Tuesday. Columbia Banking System has a 52-week low of $26.17 and a 52-week high of $45.68. The stock has a 50 day moving average price of $39.08 and a 200 day moving average price of $40.26. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 21.01 and a beta of 1.22.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $111.53 million during the quarter, compared to analysts’ expectations of $110.72 million. Columbia Banking System had a return on equity of 8.90% and a net margin of 25.82%. During the same period last year, the business earned $0.40 earnings per share. Analysts expect that Columbia Banking System will post $2.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. Columbia Banking System’s dividend payout ratio is currently 45.36%.
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Several large investors have recently bought and sold shares of COLB. Anchor Capital Advisors LLC increased its stake in Columbia Banking System by 2.3% in the third quarter. Anchor Capital Advisors LLC now owns 36,415 shares of the financial services provider’s stock valued at $1,191,000 after buying an additional 815 shares in the last quarter. Principal Financial Group Inc. increased its stake in Columbia Banking System by 4.0% in the third quarter. Principal Financial Group Inc. now owns 434,079 shares of the financial services provider’s stock valued at $14,204,000 after buying an additional 16,838 shares in the last quarter. Northern Trust Corp increased its stake in Columbia Banking System by 6.6% in the third quarter. Northern Trust Corp now owns 1,275,205 shares of the financial services provider’s stock valued at $41,726,000 after buying an additional 79,092 shares in the last quarter. California State Teachers Retirement System increased its stake in Columbia Banking System by 0.8% in the third quarter. California State Teachers Retirement System now owns 122,988 shares of the financial services provider’s stock valued at $4,024,000 after buying an additional 1,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Columbia Banking System during the third quarter valued at about $398,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.
Columbia Banking System Company Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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