Colombian banking system (NASDAQ:COLB – Get a rating) will publish its quarterly results before the market opens on Thursday, July 21. Analysts expect Columbia Banking System to post earnings of $0.76 per share for the quarter. Parties wishing to listen to the company’s conference call can do so using this link.
Colombian banking system (NASDAQ:COLB – Get a rating) last announced its results on Thursday, April 21. The financial services provider reported EPS of $0.81 for the quarter, beating the consensus estimate of $0.66 by $0.15. The company posted revenue of $170.38 million in the quarter, versus a consensus estimate of $166.09 million. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. Columbia Banking System revenue increased 15.8% from the same quarter last year. In the same period a year earlier, the company posted earnings of $0.73 per share. On average, analysts expect Columbia Banking System to post EPS of $3 for the current fiscal year and EPS of $3 for the next fiscal year.
NASDAQ:COLB opened at $28.48 on Thursday. The company has a market capitalization of $2.24 billion, a price-earnings ratio of 10.17 and a beta of 0.67. Columbia Banking System has a 1-year minimum of $26.97 and a 1-year maximum of $40.78. The company’s fifty-day moving average price is $29.03 and its 200-day moving average price is $32.11.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.30. This represents an annualized dividend of $1.20 and a yield of 4.21%. The ex-dividend date was Tuesday, May 3. Columbia Banking System’s payout ratio is currently 42.86%.
Several analysts have recently weighed in on COLB shares. StockNews.com began covering Columbia Banking System in a research note on Thursday, March 31. They set a “holding” rating for the company. Piper Sandler lowered its target price on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 report. Royal Bank of Canada raised its target price on Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a Friday, April 22 report. Finally, Raymond James lowered its price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 report. Four research analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.80.
In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf bought 3,000 shares in a trade on Monday, May 2. The shares were purchased at an average price of $28.00 per share, with a total value of $84,000.00. Following completion of the transaction, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The acquisition was disclosed in a legal filing with the SEC, accessible via this link. Additionally, manager Craig D. Eerkes bought 1,694 shares in a trade on Friday, June 10. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $48,312.88. Following the transaction, the director now owns 20,227 shares of the company, valued at $576,874.04. Disclosure of this purchase can be found here. Insiders purchased a total of 5,713 shares of the company worth $158,593 over the past 90 days. 0.62% of the shares are held by insiders.
A number of hedge funds and other institutional investors have recently changed their positions in the company. Covestor Ltd increased its holdings of Columbia Banking System shares by 178.9% in the first quarter. Covestor Ltd now owns 2,421 shares of the financial services provider worth $78,000 after acquiring an additional 1,553 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Columbia Banking System by 26.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider valued at $171,000 after purchasing an additional 1,120 shares during the period. Guggenheim Capital LLC increased its stake in shares of Columbia Banking System by 22.1% in the first quarter. Guggenheim Capital LLC now owns 8,698 shares of the financial services provider valued at $281,000 after purchasing an additional 1,573 shares during the period. Quantbot Technologies LP increased its stake in shares of Columbia Banking System to 92.2% in the first quarter. Quantbot Technologies LP now owns 9,271 shares of the financial services provider valued at $299,000 after purchasing an additional 4,448 shares during the period. Finally, Quantamental Technologies LLC increased its stake in shares of Columbia Banking System by 37.8% in the first quarter. Quantamental Technologies LLC now owns 10,408 shares of the financial services provider valued at $336,000 after purchasing an additional 2,854 shares during the period. 94.44% of the shares are currently held by hedge funds and other institutional investors.
Columbia Banking System Company Profile (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.
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