Truist slashes price target on Columbia Banking System Inc. [COLB] – find out why.

Columbia Banking System Inc. [NASDAQ: COLB] closed the trading session at $27.28 on 03/07/23. The day’s price range saw the stock hit a low of $27.155, while the highest price level was $27.92. The company report on March 1, 2023 that Columbia Banking System and Umpqua Holdings Corporation Complete Merger.

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Two Leading Community Banks Based in the Northwest Combine to Create One of the Largest Banks Headquartered in the West.

Columbia Banking System, Inc. (“Columbia”) (Nasdaq: COLB), the parent company of Columbia Bank, and Umpqua Holdings Corporation (“Umpqua”), the parent company of Umpqua Bank, announced today the closing of their previously announced merger, combining the two premier banks in the Northwest to create one of the largest banks headquartered in the West.

The stocks have a year to date performance of -9.46 percent and weekly performance of -8.24 percent. The stock has been moved at -7.24 percent over the last six months. The stock has performed -16.32 percent around the most recent 30 days and changed -19.60 percent over the most recent 3-months.

If compared to the average trading volume of 2.02M shares, COLB reached to a volume of 3702310 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Columbia Banking System Inc. [COLB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COLB shares is $34.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COLB stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Columbia Banking System Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on March 01, 2023, representing the official price target for Columbia Banking System Inc. stock. Previously, the target price had yet another raise to $39, while Keefe Bruyette analysts kept a Mkt Perform rating on COLB stock. On October 13, 2021, analysts increased their price target for COLB shares from 39 to 41.

The Average True Range (ATR) for Columbia Banking System Inc. is set at 0.80, with the Price to Sales ratio for COLB stock in the period of the last 12 months amounting to 3.36. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 4.27. Price to Free Cash Flow for COLB in the course of the last twelve months was 10.91.

COLB stock trade performance evaluation

Columbia Banking System Inc. [COLB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.24. With this latest performance, COLB shares dropped by -16.32% in over the last four-week period, additionally sinking by -7.24% over the last 6 months – not to mention a drop of -20.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COLB stock in for the last two-week period is set at 24.83, with the RSI for the last a single of trading hit 15.52, and the three-weeks RSI is set at 31.35 for Columbia Banking System Inc. [COLB]. The present Moving Average for the last 50 days of trading for this stock 30.13, while it was recorded at 28.61 for the last single week of trading, and 30.50 for the last 200 days.

Columbia Banking System Inc. [COLB]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Columbia Banking System Inc. [COLB] shares currently have an operating margin of +42.60. Columbia Banking System Inc.’s Net Margin is presently recorded at +33.55.

Return on Equity for this stock inclined to 10.42, with Return on Assets sitting at 1.21.

Earnings per share (EPS) analysis for Columbia Banking System Inc. [COLB] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COLB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Columbia Banking System Inc. go to 8.00%.

Columbia Banking System Inc. [COLB]: Insider Ownership positions

There are presently around $5,584 million, in the hands of institutional investors. The top three institutional holders of COLB stocks are: BLACKROCK INC. with ownership of 23,619,147, which is approximately 2.011% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 22,497,630 shares of the stock with an approximate value of $613.74 million in COLB stocks shares; and STATE STREET CORP, currently with $274.92 million in COLB stock with ownership of nearly 1.131% of the company’s market capitalization.

222 institutional holders increased their position in Columbia Banking System Inc. [NASDAQ:COLB] by around 20,517,413 shares. Additionally, 191 investors decreased positions by around 16,362,763 shares, while 70 investors held positions by with 167,823,970 shares. The mentioned changes placed institutional holdings at 204,704,146 shares, according to the latest SEC report filing. COLB stock had 58 new institutional investments in for a total of 4,828,478 shares, while 42 institutional investors sold positions of 4,222,257 shares during the same period.


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