Brokerages expect Columbia Banking System, Inc. (NASDAQ:COLB) to report earnings of $0.66 per share


Wall Street brokers expect Columbia Banking System, Inc. (NASDAQ:COLB) to report earnings per share of $0.66 for the current fiscal quarter, Zacks reports. Two analysts made estimates for Columbia Banking System earnings, with the highest EPS estimate of $0.70 and the lowest estimate of $0.62. Columbia Banking System posted earnings of $0.73 per share in the same quarter last year, suggesting a negative 9.6% year-over-year growth rate. The company is due to release its next quarterly results on Thursday, May 5.

On average, analysts expect Columbia Banking System to report full year earnings of $2.65 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $3.06. For the next fiscal year, analysts expect the company to report earnings of $3.34 per share, with EPS estimates ranging from $3.03 to $3.50. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of sell-side research analysts who cover Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last reported results on Wednesday, January 19. The financial services provider reported earnings per share (EPS) of $0.55 for the quarter, missing Thomson Reuters’ consensus estimate of $0.59 per ($0.04). Columbia Banking System had a net margin of 32.19% and a return on equity of 8.91%. In the same quarter a year earlier, the company posted EPS of $0.82.

A number of equity research analysts have weighed in on the stock. Raymond James lowered his price target on Columbia Banking System shares from $43.00 to $40.00 and set an “outperform” rating for the company in a Monday, Nov. 1 research note. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong sell” rating in a Monday, Jan. 24, research report. reduced shares of Columbia Banking System from a “hold” to a “sell” rating in a Thursday, Feb. 17, research memo. Finally, Keefe, Bruyette & Woods began covering Columbia Banking System stocks in a research report on Friday, February 11. They set a “market performance” rating for the company. Two equity research analysts have assigned the stock a sell rating, four have issued a hold rating and two have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.67.

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In other news, Director Tom Hubert acquired 11,073 shares of the company in a transaction dated Friday, November 26. The shares were purchased at an average cost of $32.21 per share, for a total transaction of $356,661.33. The purchase was disclosed in an SEC filing, which is available via the SEC website. Company insiders own 0.57% of the company’s shares.

Institutional investors have recently changed their positions in the company. State Street Corp increased its position in Columbia Banking System shares by 38.2% during the fourth quarter. State Street Corp now owns 4,957,374 shares of the financial services provider worth $162,205,000 after buying an additional 1,370,893 shares last quarter. Millennium Management LLC purchased a new stake in shares of Columbia Banking System during the fourth quarter valued at approximately $35,816,000. Boston Partners bought a new position in shares of Columbia Banking System in the fourth quarter worth $17,362,000. Thrivent Financial for Lutherans increased its position in Columbia Banking System shares by 36.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,810,456 shares of the financial services provider worth $59,238,000 after acquiring an additional 480,745 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 acquiring 458,588 additional shares in the last quarter. Institutional investors and hedge funds hold 84.11% of the company’s shares.

Shares of Columbia Banking System opened at $36.34 on Wednesday. Columbia Banking System has a 12-month low of $30.09 and a 12-month high of $50.68. The company’s 50-day moving average is $34.78. The company has a market capitalization of $2.85 billion, a P/E ratio of 13.03 and a beta of 0.69.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 16. Shareholders of record on Wednesday, February 2 received a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a yield of 3.30%. The ex-dividend date was Tuesday, February 1. Columbia Banking System’s dividend payout ratio is currently 43.01%.

About the Columbia Banking System

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

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