Columbia Banking System Inc (COLB) Receives Average Recommendation of “Hold” from Analysts

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Columbia Banking System Inc (NASDAQ:COLB) has been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $44.00.

COLB has been the topic of several recent research reports. ValuEngine lowered Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. DA Davidson lifted their price objective on Columbia Banking System from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 30th. Stephens initiated coverage on Columbia Banking System in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Zacks Investment Research lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th.

In other news, COO Clint Stein sold 657 shares of Columbia Banking System stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $38.32, for a total value of $25,176.24. Following the transaction, the chief operating officer now directly owns 24,644 shares in the company, valued at $944,358.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its position in Columbia Banking System by 9.2% during the fourth quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock worth $132,000 after buying an additional 307 shares in the last quarter. State of Alaska Department of Revenue grew its position in Columbia Banking System by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 24,482 shares of the financial services provider’s stock worth $888,000 after buying an additional 355 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in Columbia Banking System by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 17,431 shares of the financial services provider’s stock worth $633,000 after buying an additional 551 shares in the last quarter. Bank of Montreal Can grew its position in Columbia Banking System by 2.9% during the fourth quarter. Bank of Montreal Can now owns 21,774 shares of the financial services provider’s stock worth $789,000 after buying an additional 617 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new stake in Columbia Banking System during the fourth quarter worth about $25,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ COLB traded down $0.34 during trading on Friday, hitting $35.16. 1,142,040 shares of the company traded hands, compared to its average volume of 391,565. Columbia Banking System has a 12 month low of $31.35 and a 12 month high of $45.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $2.58 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.91 and a beta of 1.01.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 24th. The financial services provider reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.06). Columbia Banking System had a net margin of 29.54% and a return on equity of 9.01%. The company had revenue of $144.29 million for the quarter, compared to the consensus estimate of $148.88 million. During the same quarter last year, the business earned $0.54 earnings per share. Columbia Banking System’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Columbia Banking System will post 2.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Stockholders of record on Wednesday, February 6th were paid a $0.28 dividend. The ex-dividend date was Tuesday, February 5th. This is a positive change from Columbia Banking System’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.19%. Columbia Banking System’s payout ratio is presently 45.34%.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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