Wells Fargo Upgrades Columbia Banking System (COLB)
Fintel reports that on January 6, 2025, Wells Fargo upgraded their outlook for Columbia Banking System (NasdaqGS:COLB) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 23.73% Upside
As of December 23, 2024, the average one-year price target for Columbia Banking System is $33.92/share. The forecasts range from a low of $30.30 to a high of $40.95. The average price target represents an increase of 23.73% from its latest reported closing price of $27.41 / share.
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The projected annual revenue for Columbia Banking System is 3,848MM, an increase of 110.41%. The projected annual non-GAAP EPS is 5.51.
What is the Fund Sentiment?
There are 809 funds or institutions reporting positions in Columbia Banking System. This is an increase of 19 owner(s) or 2.41% in the last quarter. Average portfolio weight of all funds dedicated to COLB is 0.28%, an increase of 21.66%. Total shares owned by institutions increased in the last three months by 1.01% to 251,563K shares. 
The put/call ratio of COLB is 0.25, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 12,592K shares representing 6.01% ownership of the company. In its prior filing, the firm reported owning 11,571K shares , representing an increase of 8.11%. The firm increased its portfolio allocation in COLB by 36.50% over the last quarter.
American Century Companies holds 7,541K shares representing 3.60% ownership of the company. In its prior filing, the firm reported owning 6,192K shares , representing an increase of 17.90%. The firm increased its portfolio allocation in COLB by 51.77% over the last quarter.
Franklin Resources holds 7,300K shares representing 3.48% ownership of the company. In its prior filing, the firm reported owning 7,582K shares , representing a decrease of 3.87%. The firm decreased its portfolio allocation in COLB by 78.96% over the last quarter.
Charles Schwab Investment Management holds 7,109K shares representing 3.39% ownership of the company. In its prior filing, the firm reported owning 6,931K shares , representing an increase of 2.51%. The firm increased its portfolio allocation in COLB by 6.25% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,723K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 6,712K shares , representing an increase of 0.16%. The firm increased its portfolio allocation in COLB by 23.49% 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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