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.
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.
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