Brokerages Set Columbia Banking System Inc (COLB) Target Price at $48.00

Shares of Columbia Banking System Inc (NASDAQ:COLB) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $48.00.

COLB has been the topic of a number of analyst reports. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, October 31st. BidaskClub raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price objective on shares of Columbia Banking System in a research note on Tuesday, January 9th. Sandler O’Neill reissued a “hold” rating and issued a $48.00 price objective on shares of Columbia Banking System in a research note on Friday, January 26th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price objective on shares of Columbia Banking System in a research note on Friday, January 26th.

In other news, CAO Barry Ray sold 750 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares of the company’s stock, valued at approximately $527,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC raised its stake in Columbia Banking System by 98.1% during the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Columbia Banking System by 79.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,476 shares during the period. Meeder Asset Management Inc. acquired a new position in Columbia Banking System during the 4th quarter worth approximately $178,000. Teacher Retirement System of Texas acquired a new position in Columbia Banking System during the 3rd quarter worth approximately $202,000. Finally, Janney Montgomery Scott LLC acquired a new position in Columbia Banking System during the 3rd quarter worth approximately $204,000. 76.73% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System (NASDAQ:COLB) traded up $0.54 during midday trading on Friday, hitting $42.80. The company’s stock had a trading volume of 327,121 shares, compared to its average volume of 281,943. Columbia Banking System has a 1 year low of $35.67 and a 1 year high of $48.06. The company has a market cap of $3,085.82, a price-to-earnings ratio of 22.53, a PEG ratio of 1.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.82 and a quick ratio of 0.82.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The company had revenue of $135.40 million during the quarter, compared to the consensus estimate of $135.15 million. During the same quarter last year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 25.3% on a year-over-year basis. analysts forecast that Columbia Banking System will post 2.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, February 6th. Columbia Banking System’s dividend payout ratio is 46.32%.

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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.

Analyst Recommendations for Columbia Banking System (NASDAQ:COLB)

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