Brokerages expect Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) to show earnings per share of $0.71 for the current fiscal quarter, Zacks Investment Research reports. Two analysts released earnings estimates for Columbia Banking System, with the highest EPS estimate of $0.76 and the lowest estimate of $0.65. Columbia Banking System posted earnings per share of $0.77 in the same quarter last year, suggesting a negative 7.8% year-over-year growth rate. The company is due to release its next results on Monday, January 1.
According to Zacks, analysts expect Columbia Banking System to report annual earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $1.87 to $3.06. For next year, analysts expect the company to report earnings of $3.40 per share, with EPS estimates ranging from $3.16 to $3.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Columbia’s banking system.
Colombian banking system (NASDAQ:COLB – Get a rating) last reported results on Thursday, April 21. The financial services provider reported EPS of $0.74 for the quarter, beating analyst consensus estimates of $0.68 by $0.06. The company posted revenue of $170.38 million in the quarter, compared to $166.09 million expected by analysts. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. Columbia Banking System’s revenue for the quarter increased 15.8% year over year. During the same period last year, the company achieved EPS of $0.73.
Several equity research analysts have commented on COLB’s stock. Keefe, Bruyette & Woods launched coverage on Columbia Banking System in a research report on Friday, February 11. They issued a “market performance” rating on the stock. Royal Bank of Canada raised its price target on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a research report on Friday. 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 research report on Friday. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a price target of $38.00 for the company in a Thursday, March 31 research report. To finish, StockNews.com supposed coverage of Columbia Banking System stock in a Thursday, March 31, report. They issued a “holding” rating for the company. Four analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Columbia Banking System has an average rating of “Buy” and a consensus target price of $37.00.
In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf bought 3,000 shares of the company in a transaction on Thursday, February 24. The stock was purchased at an average cost of $33.45 per share, with a total value of $100,350.00. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. 0.62% of the shares are currently held by insiders of the company.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in Columbia Banking System by 99.4% during the third quarter. First Horizon Advisors Inc. now owns 660 shares of the financial services provider worth $31,000 after buying 329 additional shares in the last quarter. Guggenheim Capital LLC increased its position in Columbia Banking System by 5.1% during the third quarter. Guggenheim Capital LLC now owns 9,617 shares of the financial services provider worth $365,000 after buying 469 additional shares in the last quarter. Profund Advisors LLC increased its stake in shares of Columbia Banking System by 6.5% in Q4. Profund Advisors LLC now owns 8,703 shares of the financial services provider worth $285,000 after acquiring an additional 529 shares during the period. First Republic Investment Management Inc. increased its stake in Columbia Banking System by 3.5% in the third quarter. First Republic Investment Management Inc. now owns 16,154 shares of the financial services provider valued at $614,000 after buying an additional 551 shares last quarter. Finally, New York State Teachers Retirement System increased its holdings in Columbia Banking System by 0.5% during 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 acquiring an additional 600 shares during the period. Institutional investors hold 84.11% of the company’s shares.
NASDAQ COLB was trading down $1.19 on Tuesday, hitting $29.96. 815,893 shares of the company have been traded, compared to its average volume of 872,480. The company has a market capitalization of $2.36 billion, a price-earnings ratio of 10.70 and a beta of 0.63 . The 50-day moving average price of the stock is $33.32. Columbia Banking System has a 1-year minimum of $29.22 and a 1-year maximum of $44.99.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 will receive a dividend of $0.30. This represents an annualized dividend of $1.20 and a dividend yield of 4.01%. The ex-dividend date is Tuesday, May 3. Columbia Banking System’s payout ratio 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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