Equity research analysts predict that Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) will report earnings of $0.75 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts released earnings estimates for Columbia Banking System, with the lowest EPS estimate of $0.73 and the highest estimate of $0.77. Columbia Banking System reported earnings per share of $0.77 in the same quarter last year, which would indicate a negative 2.6% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect Columbia Banking System to report full year earnings of $2.60 per share for the current fiscal year, with EPS estimates ranging from $1.87 to $3.06. For the next fiscal year, analysts expect the company to report earnings of $3.44 per share, with EPS estimates ranging from $3.16 to $3.65. Zacks earnings per share calculations are an average average based on a survey of sell-side research firms that follow the Columbia Banking System.
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 analysts’ consensus estimate of $0.66 by $0.15. The company posted revenue of $170.38 million in the quarter, versus analyst estimates of $166.09 million. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company’s revenue for the quarter increased by 15.8% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.73.
A number of analysts have weighed in on the stock recently. Piper Sandler cut her price target on Columbia Banking System stock from $35.00 to $31.00 in a Monday, May 2 research note. Zacks Investment Research upgraded shares of Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a target price of $38.00 on the stock in a Thursday, March 31, report. StockNews.com began covering shares of Columbia Banking System in a Thursday, March 31 report. They issued a “holding” rating on the stock. Keefe, Bruyette & Woods began covering shares of Columbia Banking System in a report on Friday, February 11. They issued a “market performance” rating on the stock. Finally, Raymond James lowered his price target on shares of Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating on the stock in a Friday, April 22 report. Four analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat, Columbia Banking System currently has a consensus buy rating and a consensus target price of $36.00.
Shares of NASDAQ:COLB opened at $28.12 on Tuesday. The company has a 50-day moving average of $31.35 and a 200-day moving average of $33.52. The company has a market capitalization of $2.21 billion, a P/E ratio of 10.04 and a beta of 0.68. Columbia Banking System has a 12-month low of $27.61 and a 12-month high of $44.20.
The company also recently declared 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 per share. The ex-dividend date is Tuesday, May 3. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 4.27%. Columbia Banking System’s dividend payout ratio is currently 42.86%.
In other news, CFO Aaron James Cerf bought 3,000 shares of the company in a trade dated Monday, May 2. The shares were acquired at an average price of $28.00 per share, for a total transaction of $84,000.00. Following the completion of the acquisition, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.62% of the shares are held by insiders.
A number of institutional investors have recently increased or reduced their stake in COLB. Earnest Partners LLC acquired a new position in Columbia Banking System in Q4 worth approximately $27,000. Covestor Ltd acquired a new position in Columbia Banking System in Q4 worth approximately $28,000. First Horizon Advisors Inc. increased its stake in Columbia Banking System to 99.4% in Q3. First Horizon Advisors Inc. now owns 660 shares of the financial services provider valued at $31,000 after purchasing an additional 329 shares during the period. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System in the first quarter worth approximately $41,000. Finally, Neo Ivy Capital Management bought a new stake in Columbia Banking System in the fourth quarter worth about $56,000. Hedge funds and other institutional investors hold 94.44% of the company’s shares.
About the Columbia Banking System (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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