Stocks of Columbia Banking System, Inc. (NASDAQ: COLB – Get a rating) received a consensus recommendation of “Hold” from the seven research firms that currently cover the company, reports MarketBeat Ratings. Four investment analysts gave the stock a hold rating and two issued a buy rating for the company. The 12-month average target price among brokers who updated their coverage on the stock in the past year is $35.60.
COLB has been the subject of several research reports. StockNews.com launched a coverage on Columbia Banking System in a research note on Thursday, March 31. They set a “hold” rating on the stock. Keefe, Bruyette & Woods launched coverage on Columbia Banking System in a research note on Friday, February 11. They set a “market performance” rating on the stock. Piper Sandler reduced her target price on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research note. Royal Bank of Canada raised its target price on Columbia Banking System from $35.00 to $36.00 and gave the stock an “industry performance” rating in a Friday, April 22 research note. Finally, Raymond James lowered his price target on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating for the stock in a Friday, April 22 research note.
The NASDAQ COLB opened at $28.39 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of 10.14 and a beta of 0.68. Columbia Banking System has a 12-month low of $27.61 and a 12-month high of $42.39. The stock has a fifty-day simple moving average of $29.77 and a 200-day simple moving average of $32.79.
Colombia Banking System (NASDAQ:COLB – Get a rating) last released its quarterly results on Thursday, April 21. The financial services provider reported earnings per share of $0.81 for the quarter, beating analysts’ consensus estimate of $0.66 by $0.15. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. The company posted revenue of $170.38 million in the quarter, compared to $166.09 million expected by analysts. During the same period a year earlier, the company posted EPS of $0.73. The company’s revenue increased by 15.8% compared to the same quarter last year. Analysts expect Columbia Banking System to post EPS of 2.61 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.30. This represents a dividend of $1.20 on an annualized basis and a yield of 4.23%. The ex-dividend date was Tuesday, May 3. Columbia Banking System’s dividend payout ratio is currently 42.86%.
In related news, CFO Aaron James Cerf bought 3,000 shares of Columbia Banking System in a trade on Monday, May 2. The shares were purchased at an average price of $28.00 per share, with a total value of $84,000.00. Following the transaction, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. 0.62% of the shares are held by insiders of the company.
Hedge funds and other institutional investors have recently changed their holdings in the company. Earnest Partners LLC acquired a new stake in shares of Columbia Banking System during Q4 worth approximately $27,000. Covestor Ltd acquired a new stake in shares of Columbia Banking System during Q4 worth approximately $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Columbia Banking System during Q1 worth approximately $41,000. Neo Ivy Capital Management acquired a new stake in shares of Columbia Banking System during Q4 for a value of approximately $56,000. Finally, Pinebridge Investments LP acquired a new stake in shares of Columbia Banking System during Q4 worth approximately $69,000. 94.44% of the shares are currently held by institutional investors and hedge funds.
About the Columbia Banking System (Get a rating)
Columbia Banking System, Inc operates as a banking holding company for Columbia State Bank which provides a range of banking services to small and medium-sized businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Columbia Banking System right now?
Before you consider Columbia Banking System, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Columbia Banking System was not on the list.
While Columbia Banking System currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here