Fintel reports that on September 24, 2024, Wedbush upgraded their outlook for Columbia Banking System (NasdaqGS:COLB) from Neutral to Outperform.
Analyst Price Forecast Suggests 8.07% Upside
As of August 26, 2024, the average one-year price target for Columbia Banking System is $27.82/share. The forecasts range from a low of $24.24 to a high of $37.80. The average price target represents an increase of 8.07% from its latest reported closing price of $25.74 / share.
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The projected annual revenue for Columbia Banking System is 2,317MM, an increase of 25.29%. The projected annual non-GAAP EPS is 3.91.
What is the Fund Sentiment?
There are 806 funds or institutions reporting positions in Columbia Banking System. This is an decrease of 3 owner(s) or 0.37% in the last quarter. Average portfolio weight of all funds dedicated to COLB is 0.22%, an increase of 2.38%. Total shares owned by institutions increased in the last three months by 5.36% to 238,825K shares. 
The put/call ratio of COLB is 0.33, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 11,571K shares representing 5.52% ownership of the company. In its prior filing, the firm reported owning 10,998K shares , representing an increase of 4.95%. The firm increased its portfolio allocation in COLB by 11.56% over the last quarter.
Franklin Resources holds 7,582K shares representing 3.62% ownership of the company. In its prior filing, the firm reported owning 7,276K shares , representing an increase of 4.04%. The firm decreased its portfolio allocation in COLB by 82.60% over the last quarter.
Charles Schwab Investment Management holds 6,931K shares representing 3.31% ownership of the company. In its prior filing, the firm reported owning 6,957K shares , representing a decrease of 0.38%. The firm decreased its portfolio allocation in COLB by 29.52% over the last quarter.
Massachusetts Financial Services holds 6,766K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 6,819K shares , representing a decrease of 0.79%. The firm decreased its portfolio allocation in COLB by 83.89% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,712K shares representing 3.20% ownership of the company. In its prior filing, the firm reported owning 6,560K shares , representing an increase of 2.27%. The firm increased its portfolio allocation in COLB by 2.28% 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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