Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) – Analysts at DA Davidson raised their FY2022 EPS estimates for Columbia Banking System in a research note released to investors on Thursday, June 30. DA Davidson analyst J. Rulis now expects the financial services provider to post earnings per share of $2.80 for the year, up from its previous forecast of $2.70. Columbia Banking System’s current annual earnings consensus estimate is $2.63 per share.
Colombian banking system (NASDAQ:COLB – Get a rating) last released its quarterly results on Thursday, April 21. The financial services provider reported earnings per share of $0.81 for the quarter, beating the consensus estimate of $0.66 by $0.15. The company posted revenue of $170.38 million for the quarter, versus $166.09 million expected by analysts. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company’s revenue increased by 15.8% compared to the same quarter last year. During the same quarter last year, the company posted EPS of $0.73.
Several other research analysts also commented on COLB. Piper Sandler cut her price target on Columbia Banking System stock from $35.00 to $31.00 in a Monday, May 2 research note. 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 report . StockNews.com launched a hedge on Columbia Banking System shares in a research report on Thursday, March 31. They set a “holding” rating for the company. Finally, Raymond James cut his price target on Columbia Banking System shares from $40.00 to $38.00 and set an “outperform” rating for the company in a Friday, April 22 research note. Four research analysts rated the stock with a hold rating and two assigned the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.60.
Columbia Banking System Action opened at $29.82 on Monday. The stock has a market capitalization of $2.35 billion, a price-earnings ratio of 10.65 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 has a 50-day moving average of $29.09 and a two-hundred-day moving average of $32.26.
Several hedge funds and other institutional investors have recently changed their positions in COLB. Crossmark Global Holdings Inc. increased its stake in Columbia Banking System by 6.3% in Q1. Crossmark Global Holdings Inc. now owns 7,120 shares of the financial services provider worth $230,000 after buying an additional 420 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings of Columbia Banking System shares 3.0% in the first quarter. Mercer Global Advisors Inc. ADV now owns 16,106 shares of the financial services provider worth $520,000 after buying 465 additional shares in the last quarter. Profund Advisors LLC increased its holdings of Columbia Banking System shares by 6.5% during the fourth quarter. Profund Advisors LLC now owns 8,703 shares of the financial services provider worth $285,000 after buying an additional 529 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Columbia Banking System by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 11,201 shares of the financial services provider valued at $361,000 after buying an additional 580 shares last quarter. Finally, New York State Teachers Retirement System increased its stake in Columbia Banking System shares by 0.5% in the fourth quarter. The New York State Teachers’ Retirement System now owns 123,692 shares of the financial services provider worth $4,047,000 after buying an additional 600 shares last quarter. 94.44% of the shares are held by institutional investors and hedge funds.
In related news, CFO Aaron James Cerf acquired 3,000 shares of the company in a transaction that took place on Monday, May 2. The shares were acquired at an average cost of $28.00 per share, for a total transaction of $84,000.00. Following the completion of the purchase, 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, available at this hyperlink. Additionally, director Craig D. Eerkes purchased 1,694 shares of the company in a trade on Friday, June 10. The stock was acquired at an average price of $28.52 per share, for a total transaction of $48,312.88. Following completion of the transaction, the director now owns 20,227 shares of the company, valued at approximately $576,874.04. Disclosure of this purchase can be found here. Insiders bought 5,713 shares of the company worth $158,593 in the past 90 days. 0.62% of the shares are currently held by insiders of the company.
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 per share. This represents an annualized dividend of $1.20 and a dividend yield of 4.02%. The ex-dividend date was Tuesday, May 3. Columbia Banking System’s dividend payout ratio (DPR) is currently 42.86%.
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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