Columbia Banking System (NASDAQ:COLB) Given New $29.00 Price Target at Barclays

Columbia Banking System (NASDAQ:COLB) had its price objective raised by stock analysts at Barclays from $25.00 to $29.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 4.28% from the company’s current price.

COLB has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Wedbush raised their price objective on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday. Finally, Stephens lifted their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.96.

Columbia Banking System Stock Down 1.6 %

Shares of NASDAQ:COLB traded down $0.46 during midday trading on Friday, hitting $27.81. The stock had a trading volume of 919,365 shares, compared to its average volume of 2,302,754. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.53. The company has a market capitalization of $5.82 billion, a P/E ratio of 11.95 and a beta of 0.64. The company’s 50-day moving average price is $25.41 and its 200-day moving average price is $22.15.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Research analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Columbia Banking System

A number of institutional investors have recently modified their holdings of COLB. Nisa Investment Advisors LLC lifted its stake in shares of Columbia Banking System by 2.3% in the third quarter. Nisa Investment Advisors LLC now owns 49,063 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 1,110 shares in the last quarter. Leuthold Group LLC bought a new position in Columbia Banking System in the 3rd quarter valued at about $3,181,000. State of Alaska Department of Revenue boosted its stake in Columbia Banking System by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 24,177 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 1,650 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Columbia Banking System by 9.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,712 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Columbia Banking System by 12.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 127,672 shares of the financial services provider’s stock worth $3,314,000 after purchasing an additional 14,135 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

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.