Columbia Banking System (COLB) Issues Earnings Results

Columbia Banking System (NASDAQ:COLB) posted its earnings results on Wednesday. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07), MarketWatch Earnings reports. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. During the same period last year, the firm earned $0.50 earnings per share.

NASDAQ:COLB traded down $2.25 on Thursday, hitting $42.53. The company’s stock had a trading volume of 418,153 shares, compared to its average volume of 290,167. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3,272.31, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.59 and a beta of 1.05. Columbia Banking System has a one year low of $35.67 and a one year high of $48.06.

In other Columbia Banking System news, CFO Clint Stein sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $44.16, for a total value of $101,568.00. Following the sale, the chief financial officer now owns 26,610 shares in the company, valued at $1,175,097.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.23% of the stock is owned by corporate insiders.

COLB has been the topic of a number of research reports. Royal Bank of Canada restated a “hold” rating and issued a $46.00 price target on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray restated a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a report on Tuesday, January 9th. BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Zacks Investment Research lowered Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, March 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.33.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

Earnings History for Columbia Banking System (NASDAQ:COLB)

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