Shares of Columbia Banking System Inc (NASDAQ:COLB) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $48.00.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Piper Jaffray Companies set a $52.00 target price on shares of Columbia Banking System and gave the stock a “buy” rating in a report on Tuesday, January 30th. BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Sandler O’Neill reaffirmed a “hold” rating and set a $48.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $46.00 target price on shares of Columbia Banking System in a report on Friday, January 26th.
Shares of Columbia Banking System (NASDAQ COLB) traded up $0.14 on Friday, hitting $41.66. 193,400 shares of the stock were exchanged, compared to its average volume of 263,862. The company has a market cap of $3,031.79, a P/E ratio of 21.93, a PEG ratio of 1.48 and a beta of 1.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.02. Columbia Banking System has a 52 week low of $35.67 and a 52 week high of $48.06.
Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). The company had revenue of $135.40 million for the quarter, compared to the consensus estimate of $135.15 million. Columbia Banking System had a return on equity of 9.14% and a net margin of 23.29%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. analysts expect that Columbia Banking System will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, February 6th. Columbia Banking System’s payout ratio is 46.32%.
In other Columbia Banking System news, CAO Barry Ray sold 750 shares of Columbia Banking System stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the sale, the chief accounting officer now owns 11,250 shares in the company, valued at approximately $527,287.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in Columbia Banking System by 27.4% in the 4th quarter. BlackRock Inc. now owns 9,307,225 shares of the financial services provider’s stock worth $404,306,000 after purchasing an additional 2,002,968 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Columbia Banking System by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock valued at $217,272,000 after buying an additional 88,252 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Columbia Banking System by 4.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,964,964 shares of the financial services provider’s stock valued at $82,745,000 after buying an additional 80,731 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Columbia Banking System by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,150,303 shares of the financial services provider’s stock valued at $49,968,000 after buying an additional 121,284 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Columbia Banking System in the 2nd quarter valued at approximately $44,762,000. Institutional investors and hedge funds own 76.73% of the company’s stock.
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About Columbia Banking System
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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