JPMorgan Slashes Price Target on Columbia Banking System

JPMorgan Chase & Co. has lowered its price target for Columbia Banking System (NASDAQ:COLB) to $33.00 from $35.00, according to a note issued by the brokerage on Thursday.

This move is part of JPMorgan's ongoing analysis and review of the company's financial performance. The new target suggests a potential upside of 17.71% from Columbia Banking System's previous close.

Columbia Banking System has been subject to various price targets and ratings from different analysts, with some raising their objectives while others have lowered them. Royal Bank Of Canada recently raised its price objective on shares of Columbia Banking System from $34.00 to $35.00, giving the stock a 'sector perform' rating.

The company has seen significant institutional ownership, with investors holding approximately 92.53% of the company's stock. Columbia Banking System reported quarterly earnings data on Thursday, July 23rd, beating analyst estimates with $0.76 earnings per share for the quarter.