Columbia Banking System (NASDAQ:COLB) Price Target Raised to $21.00 at Barclays

Columbia Banking System (NASDAQ:COLB) had its target price raised by investment analysts at Barclays from $20.00 to $21.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 7.20% from the company’s previous close.

COLB has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. UBS Group lowered their price target on shares of Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating on the stock in a research report on Friday, January 26th. Piper Sandler lowered their price target on shares of Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Royal Bank of Canada lowered their price target on shares of Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 9th. Finally, TheStreet lowered shares of Columbia Banking System from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average price target of $22.19.

Columbia Banking System Trading Up 3.1 %

Shares of NASDAQ:COLB traded up $0.58 on Friday, hitting $19.59. The company had a trading volume of 849,123 shares, compared to its average volume of 2,839,047. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $28.11. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 11.87 and a beta of 0.71. The stock has a 50 day moving average price of $18.50 and a 200 day moving average price of $21.16.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. Columbia Banking System had a net margin of 12.71% and a return on equity of 10.27%. The firm had revenue of $473.72 million for the quarter, compared to the consensus estimate of $480.39 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that Columbia Banking System will post 2.25 earnings per share for the current fiscal year.

Insider Activity

In other Columbia Banking System news, CFO Ron L. Farnsworth bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $20.71 per share, for a total transaction of $51,775.00. Following the transaction, the chief financial officer now directly owns 160,073 shares in the company, valued at $3,315,111.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Clint Stein purchased 9,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were purchased at an average price of $20.96 per share, for a total transaction of $199,120.00. Following the transaction, the chief executive officer now owns 165,684 shares of the company’s stock, valued at $3,472,736.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ron L. Farnsworth purchased 2,500 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $20.71 per share, for a total transaction of $51,775.00. Following the transaction, the chief financial officer now directly owns 160,073 shares in the company, valued at approximately $3,315,111.83. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 35,133 shares of company stock worth $719,737. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Verdence Capital Advisors LLC bought a new stake in shares of Columbia Banking System in the 1st quarter valued at $311,000. Simplicity Wealth LLC bought a new stake in shares of Columbia Banking System in the 1st quarter valued at $421,000. Essex Financial Services Inc. increased its stake in shares of Columbia Banking System by 3.8% in the 1st quarter. Essex Financial Services Inc. now owns 19,580 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 725 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Columbia Banking System by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 60,000 shares of the financial services provider’s stock valued at $1,161,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Columbia Banking System by 8.2% in the 1st quarter. Amalgamated Bank now owns 142,303 shares of the financial services provider’s stock valued at $2,754,000 after acquiring an additional 10,817 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Company Profile

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.