Fintel reports that on October 6, 2023, UBS upgraded their outlook for Columbia Banking System (NASDAQ:COLB) from Sell to Neutral .
Analyst Price Forecast Suggests 27.63% Upside
As of October 5, 2023, the average one-year price target for Columbia Banking System is 25.36. The forecasts range from a low of 18.18 to a high of $31.50. The average price target represents an increase of 27.63% from its latest reported closing price of 19.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Columbia Banking System is 2,255MM, an increase of 57.87%. The projected annual non-GAAP EPS is 3.57.
What is the Fund Sentiment?
There are 806 funds or institutions reporting positions in Columbia Banking System. This is a decrease of 77 owner(s) or 8.72% in the last quarter. Average portfolio weight of all funds dedicated to COLB is 0.25%, an increase of 8.20%. Total shares owned by institutions increased in the last three months by 2.38% to 239,554K shares. 
The put/call ratio of COLB is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 9,844K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 6,884K shares, representing an increase of 30.07%. The firm increased its portfolio allocation in COLB by 28.63% over the last quarter.
Massachusetts Financial Services holds 7,053K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 6,956K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in COLB by 7.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,465K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 6,404K shares, representing an increase of 0.95%. The firm decreased its portfolio allocation in COLB by 11.81% over the last quarter.
Franklin Resources holds 6,427K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 5,538K shares, representing an increase of 13.82%. The firm increased its portfolio allocation in COLB by 369.27% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 6,323K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 6,416K shares, representing a decrease of 1.46%. The firm decreased its portfolio allocation in COLB by 10.61% over the last quarter.
Columbia Banking System Background Information
(This description is provided by the company.)
Headquartered in Tacoma, Washington, Columbia Banking System, Inc. is the holding company of Columbia Bank, a Washington state-charteredfull-service commercial bank with locations throughout Washington, Oregon and Idaho. The bank has been named one of Puget Sound Business Journal's "Washington's Best Workplaces," more than 10 times and was recently honored as #1 in Customer Satisfaction with Retail Banking in the Northwest region by J.D. Power in the 2020 U.S. Retail Banking Satisfaction Study. Columbia was named the #1 bank in the Northwest on the Forbes 2020 list of "America's Best Banks" marking nearly 10 consecutive years on the publication's list of top financial institutions. More information about Columbia can be found on its website at www.columbiabank.com. Columbia Bank received the highest score in the Northwest region of the J.D. Power 2020 U.S. Retail Banking Satisfaction Study of customer satisfaction with their own retail bank.
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