Stephens Has Lowered Expectations for Columbia Banking System (NASDAQ:COLB) Stock Price

Columbia Banking System (NASDAQ:COLB) had its price objective cut by Stephens from $33.00 to $31.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other analysts have also issued reports on COLB. Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Royal Bank of Canada increased their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. Finally, Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $30.38.

Columbia Banking System Trading Down 0.6 %

NASDAQ COLB opened at $27.95 on Tuesday. The company’s fifty day simple moving average is $28.69 and its 200-day simple moving average is $26.88. The stock has a market cap of $5.86 billion, a P/E ratio of 12.10 and a beta of 0.67. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. On average, research analysts expect that Columbia Banking System will post 2.66 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Friday, November 29th. Columbia Banking System’s payout ratio is 62.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in COLB. GAMMA Investing LLC raised its stake in shares of Columbia Banking System by 54.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 1,290 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Columbia Banking System by 1,507.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock valued at $127,000 after buying an additional 4,553 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Columbia Banking System by 26.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,091 shares during the last quarter. Signaturefd LLC grew its holdings in Columbia Banking System by 14.0% in the 3rd quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after buying an additional 709 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Columbia Banking System by 14.9% in the 4th quarter. Blue Trust Inc. now owns 6,745 shares of the financial services provider’s stock valued at $176,000 after buying an additional 875 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

About Columbia Banking System

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.