Columbia Banking System (COLB) is expected to report results on Wednesday

0

Columbia Banking System (NASDAQ:COLB) will release earnings data after market close on Wednesday, January 19. Analysts expect Columbia Banking System to post earnings of $0.56 per share for the quarter. Individuals wishing to register for the company’s earnings conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last released its results on Wednesday, October 27. The financial services provider reported EPS of $0.74 for the quarter, beating Thomson Reuters consensus estimate of $0.71 by $0.03. Columbia Banking System had a return on equity of 9.41% and a net margin of 35.50%. The company posted revenue of $132.54 million in the quarter, compared to $150.88 million expected by analysts. In the same period a year earlier, the company had earned earnings per share of $0.63. The company’s revenue increased 13.0% year over year. On average, analysts expect Columbia Banking System to post EPS of $3 for the current fiscal year and EPS of $2 for the next fiscal year.

Shares of COLB opened at $36.73 on Wednesday. The company’s 50-day moving average price is $33.96. Columbia Banking System has a 12-month low of $30.09 and a 12-month high of $50.68. The company has a market capitalization of $2.88 billion, a price/earnings ratio of 12.00 and a beta of 0.75.

A number of research firms have commented on COLB. Raymond James lowered its price target on Columbia Banking System from $43.00 to $40.00 and set an “outperform” rating for the company in a Monday, Nov. 1 research report. Royal Bank of Canada cut its price target on Columbia Banking System from $42.00 to $38.00 and set a “sector performance” rating on the stock in a Wednesday, Oct. 13 research note. Stephens cut his price target on Columbia Banking System from $40.00 to $32.00 and set an “equal weight” rating on the stock in a Wednesday, Oct. 13 research note. Zacks Investment Research upgraded Columbia Banking System from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, DA Davidson upgraded Columbia Banking System from a “neutral” rating to a “buy” rating and raised its target price for the company from $39.00 to $41.00 in a Wednesday 13 research note. October. Five investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.14.

(A d)

Experts expect the global lithium market to grow by 500% due to the explosion of electric vehicles and green energy. And a small-cap company has just taken over a large lithium deposit in a renowned location in South America.

Separately, director Tom Hulbert acquired 11,073 shares of the company in a transaction dated Friday, November 26. The shares were purchased at an average price of $32.21 per share, for a total transaction of $356,661.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Insiders of the company own 0.57% of the shares of the company.

A number of hedge funds and other institutional investors have recently changed their positions in the company. LPL Financial LLC increased its stake in Columbia Banking System by 25.2% in the third quarter. LPL Financial LLC now owns 10,313 shares of the financial services provider worth $392,000 after purchasing an additional 2,076 shares in the last quarter. Janus Henderson Group PLC purchased a new equity stake in Columbia Banking System during the third quarter valued at approximately $275,000. Finally, Morgan Stanley increased its stake in shares of Columbia Banking System by 18.2% during the second quarter. Morgan Stanley now owns 406,883 shares of the financial services provider valued at $15,689,000 after acquiring an additional 62,511 shares last quarter. 90.24% of the shares are held by institutional investors and hedge funds.

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 bank; personal loans; real estate loans; foreign currency; professional bank; finance management; merchant card services; international bank; financial services; private bank; and trust and investment services.

See also: What is a Roth IRA?

Earnings History for Columbia Banking System (NASDAQ:COLB)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Columbia Banking System right now?

Before you consider Columbia Banking System, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Columbia Banking System was not on the list.

While Columbia Banking System currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

About Author

Comments are closed.