$169.40 million in sales expected for Columbia Banking System, Inc. (NASDAQ:COLB) this quarter

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Equity research analysts predict that Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) will announce sales of $169.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts provided earnings estimates for Columbia Banking System. The lowest sales estimate is $162.30 million and the highest is $176.50 million. Columbia Banking System reported sales of $146.21 million in the same quarter last year, suggesting a positive year-over-year growth rate of 15.9%. The company is due to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect Columbia Banking System to report annual sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.34 billion. For the next fiscal year, analysts expect the company to post sales of $2.08 billion, with estimates ranging from $2.07 billion to $2.08 billion. Zacks sales calculations are an average average based on a survey of analysts who provide coverage for Columbia Banking System.

Colombian banking system (NASDAQ:COLBGet a rating) last reported quarterly earnings data on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $0.74 for the quarter, beating the consensus estimate of $0.68 by $0.06. The company posted revenue of $170.38 million for the quarter, versus a consensus estimate of $166.09 million. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company’s quarterly revenue increased by 15.8% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.73.

COLB has been the subject of a number of recent analyst reports. StockNews.com launched a hedge on Columbia Banking System shares in a Thursday, March 31, research note. They have placed a “holding” rating on the stock. Raymond James cut his price target on Columbia Banking System stock from $40.00 to $38.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. Keefe, Bruyette & Woods began covering Columbia Banking System shares in a research note on Friday, February 11. They attached a “market performance” rating to the stock. Royal Bank of Canada raised its target price on Columbia Banking System shares from $35.00 to $36.00 and gave the company an “industry performance” rating in a Friday, April 22 research note . To finish, Zacks Investment Research moved shares of Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a target price of $38.00 on the stock in a Thursday, March 31 research note. Four equity research analysts gave the stock a hold rating, two issued a buy rating and one issued a strong buy rating for the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $37.00.

In related news, CFO Aaron James Cerf acquired 3,000 shares of the company in a transaction on Thursday, February 24. The stock was purchased at an average cost of $33.45 per share, with a total value of $100,350.00. The acquisition was disclosed in an SEC filing, which is available via this link. 0.62% of the shares are held by insiders of the company.

A number of hedge funds have recently changed their positions in COLB. State Street Corp raised its position in Columbia Banking System by 38.2% in 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 in the last quarter. Millennium Management LLC purchased a new stake in Columbia Banking System in Q4 valued at approximately $35,816,000. BlackRock Inc. increased its position in Columbia Banking System by 8.8% in the fourth quarter. BlackRock Inc. now owns 11,456,349 shares of the financial services provider valued at $374,853,000 after purchasing an additional 928,840 shares in the last quarter. Norges Bank purchased a new stake in Columbia Banking System in Q4, valued at approximately $22,743,000. Finally, Westwood Holdings Group Inc. increased its position in Columbia Banking System by 45.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,009,137 shares of the financial services provider valued at $65,739,000 after buying an additional 631,265 shares in the last quarter. 84.11% of the shares are held by institutional investors.

NASDAQ:COLB opened at $29.69 on Thursday. The company has a market capitalization of $2.34 billion, a P/E ratio of 10.60 and a beta of 0.63. Columbia Banking System has a fifty-two week low of $29.22 and a fifty-two week high of $44.99. The company’s 50-day moving average is $33.05 and its two-hundred-day moving average is $34.24.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 will receive a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a yield of 4.04%. The ex-dividend date is Tuesday, May 3. Columbia Banking System’s dividend payout ratio is currently 42.86%.

About the Columbia Banking System (Get a rating)

Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

See also

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Earnings history and estimates for Columbia Banking System (NASDAQ:COLB)



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