Equity research analysts expect Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) will report $163.35 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts released earnings estimates for Columbia Banking System. The lowest sales estimate is $160.20 million and the highest is $166.50 million. Columbia Banking System reported sales of $147.16 million in the same quarter last year, suggesting a positive year-over-year growth rate of 11%. The company is expected to announce its next earnings report on Thursday, May 5.
According to Zacks, analysts expect Columbia Banking System to post annual revenue of $1.31 billion for the current fiscal year. For next year, analysts expect the company to post sales of $2.04 billion, with estimates ranging from $2.01 billion to $2.08 billion. Zacks sales calculations are an average based on a survey of sell-side analysts who cover Columbia Banking System.
Colombia Banking System (NASDAQ:COLB – Get a rating) last released its quarterly earnings data on Wednesday, January 19. The financial services provider reported earnings per share of $0.67 for the quarter, beating the consensus estimate of $0.56 by $0.11. Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. The company posted revenue of $169.76 million for the quarter, compared to $164.60 million expected by analysts. During the same period last year, the company achieved EPS of $0.82.
Several brokerages have weighed in on COLB. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong sell” rating in a Monday, Jan. 24 research note. Keefe, Bruyette & Woods assumed coverage of the Columbia banking system in a Friday, Feb. 11 research report. They set a “market performance” rating for the company. Ultimately, StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a Friday, March 11 research report. One equity research analyst rated the stock with a sell rating, four gave the company a hold rating and two gave the company a buy rating. Based on MarketBeat data, Columbia Banking System has an average rating of “Hold” and a consensus target price of $38.20.
NASDAQ:COLB shares opened at $34.78 on Thursday. The company’s fifty-day moving average is $35.54. Columbia Banking System has a 1-year minimum of $30.09 and a 1-year maximum of $50.16. The company has a market capitalization of $2.73 billion, a PE ratio of 12.47 and a beta of 0.66.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 16. Investors of record on Wednesday, February 2 received a dividend of $0.30. This represents an annualized dividend of $1.20 and a yield of 3.45%. The ex-dividend date was Tuesday, February 1. Columbia Banking System’s dividend payout ratio (DPR) is currently 43.01%.
In other news, CFO Aaron James Cerf acquired 3,000 shares of the company in a transaction that took place on Thursday, February 24. The stock was purchased at an average price of $33.45 per share, with a total value of $100,350.00. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders of the company own 0.57% of the shares of the company.
Institutional investors and hedge funds have recently changed their positions in the stock. BlackRock Inc. increased its holdings in Columbia Banking System by 8.8% during the fourth quarter. BlackRock Inc. now owns 11,456,349 shares of the financial services provider valued at $374,853,000 after buying an additional 928,840 shares last quarter. State Street Corp increased its stake in Columbia Banking System by 38.2% during the fourth quarter. State Street Corp now owns 4,957,374 shares of the financial services provider valued at $162,205,000 after buying an additional 1,370,893 shares last quarter. Dimensional Fund Advisors LP increased its holdings in Columbia Banking System by 15.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,348,653 shares of the financial services provider valued at $109,568,000 after buying an additional 458,588 shares last quarter. Goldman Sachs Group Inc. increased its stake in Columbia Banking System by 19.5% during the third quarter. Goldman Sachs Group Inc. now owns 2,782,593 shares of the financial services provider valued at $105,711,000 after buying an additional 453,962 shares last quarter. Finally, Victory Capital Management Inc. increased its stake in Columbia Banking System by 9.3% during the third quarter. Victory Capital Management Inc. now owns 2,547,074 shares of the financial services provider valued at $96,763,000 after buying an additional 215,749 shares last quarter. 84.11% of the shares are held by institutional investors.
About the Columbia Banking System (Get a rating)
Columbia Banking System, Inc. is a bank holding company that provides financial services. She specializes in the management of individuals, companies and assets. It offers checking and savings accounts, debit and credit cards, digital banking, personal loans, home loans, foreign exchange, business banking, cash management, card services merchant banking, international banking, financial services, private banking, and trust and investment services.
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