Recently, Columbia Banking System Inc (Symbol: COLB) has seen its shares rise above the average analyst’s 12-month target price of $28.25, trading at $28.27 per share. When a stock hits this target, analysts typically respond in one of two ways: they may downgrade the stock due to overvaluation or adjust their target price higher. The decision often hinges on the company’s underlying business developments. If positive changes are occurring, it might be prudent for analysts to raise their price forecasts.
Within the Zacks coverage universe, 12 analysts have contributed to the average target for Columbia Banking System Inc. However, this average is merely a statistical figure. Among these analysts, one has set a lower target of $25.00, while another has a much higher projection of $36.00. The standard deviation stands at $2.895, indicating varying opinions on the stock’s future.
The purpose of looking at the average target price is to leverage the collective insight of multiple experts rather than relying on a single analyst’s viewpoint. With COLB trading above the average target price of $28.25 per share, investors now face an important question: Is this level merely a stepping stone toward even higher valuations, or is it time to consider cashing in some profits? Below is a table detailing the current analyst ratings for Columbia Banking System Inc:
| Recent COLB Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 2 | 1 | 1 | 1 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 9 | 10 | 10 | 10 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.58 | 2.75 | 2.75 | 2.75 |
The average rating shown above uses a scale from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. This analysis is based on data from Zacks Investment Research via Quandl.com. For the latest research report on COLB, visit Zacks.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
