Columbia Banking System Inc (NASDAQ:COLB) Expected to Post Earnings of $0.61 Per Share

Analysts expect that Columbia Banking System Inc (NASDAQ:COLB) will announce earnings of $0.61 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Columbia Banking System’s earnings. The highest EPS estimate is $0.63 and the lowest is $0.60. Columbia Banking System posted earnings per share of $0.63 during the same quarter last year, which would indicate a negative year over year growth rate of 3.2%. The firm is scheduled to report its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Columbia Banking System will report full-year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.49 to $2.60. For the next fiscal year, analysts expect that the business will post earnings of $2.62 per share, with EPS estimates ranging from $2.54 to $2.70. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $150.76 million for the quarter, compared to analysts’ expectations of $147.22 million. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. During the same quarter in the prior year, the firm posted $0.57 EPS.

A number of equities research analysts recently issued reports on the company. BidaskClub lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. ValuEngine raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada set a $38.00 target price on Columbia Banking System and gave the company a “hold” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $41.71.

In related news, EVP Andy Mcdonald sold 3,481 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total value of $122,043.86. Following the sale, the executive vice president now owns 36,264 shares of the company’s stock, valued at approximately $1,271,415.84. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of COLB. Norges Bank purchased a new position in shares of Columbia Banking System during the 4th quarter worth $22,754,000. BlackRock Inc. lifted its stake in shares of Columbia Banking System by 5.6% during the 1st quarter. BlackRock Inc. now owns 10,764,048 shares of the financial services provider’s stock worth $351,877,000 after purchasing an additional 574,267 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Columbia Banking System by 43.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 964,556 shares of the financial services provider’s stock worth $31,531,000 after purchasing an additional 294,156 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Columbia Banking System by 7.7% during the 1st quarter. Neuberger Berman Group LLC now owns 3,280,960 shares of the financial services provider’s stock worth $107,255,000 after purchasing an additional 234,635 shares during the period. Finally, Granite Investment Partners LLC lifted its stake in shares of Columbia Banking System by 45.4% during the 1st quarter. Granite Investment Partners LLC now owns 310,660 shares of the financial services provider’s stock worth $10,155,000 after purchasing an additional 96,928 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Shares of COLB traded up $0.21 on Tuesday, reaching $34.71. The stock had a trading volume of 238,271 shares, compared to its average volume of 318,402. Columbia Banking System has a twelve month low of $30.65 and a twelve month high of $43.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average is $35.90. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.96 and a beta of 1.07.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, August 6th. Columbia Banking System’s payout ratio is currently 45.34%.

About Columbia Banking System

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.

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Earnings History and Estimates for Columbia Banking System (NASDAQ:COLB)

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