Columbia Banking System, Inc. (NASDAQ:COLB) – Research analysts DA Davidson released their first-quarter 2022 earnings estimates for Columbia Banking System stock in a research report delivered to clients and investors on Friday, 21 January. DA Davidson analyst J. Rulis expects the financial services provider to earn $0.62 per share for the quarter. DA Davidson currently has a “Buy” rating and a target price of $41.00 on the stock. DA Davidson also released Columbia Banking System earnings estimates for fiscal year 2023 at $3.24 EPS. Columbia Banking System (NASDAQ:COLB) last released its quarterly results on Wednesday, January 19. The financial services provider reported EPS of $0.55 for the quarter, missing Thomson Reuters consensus estimate of $0.59 per ($0.04). Columbia Banking System had a return on equity of 9.41% and a net margin of 35.50%. In the same period a year earlier, the company had earned earnings per share of $0.82.
The COLB has been the subject of several other reports. Royal Bank of Canada cut its price target on Columbia Banking System from $42.00 to $38.00 and set an “industry performance” rating for the company in a research report Wednesday, October 13. Raymond James lowered his price target on Columbia Banking System from $43.00 to $40.00 and set an “outperform” rating on the stock in a Monday, Nov. 1 research note. Zacks Investment Research upgraded Columbia Banking System from a “strong sell” rating to a “hold” rating in a Monday, Jan. 10 research note. Finally, Stephens lowered 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. Five analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $40.14.
COLB opened at $35.03 on Monday. The company has a market capitalization of $2.75 billion, a price-earnings ratio of 11.45 and a beta of 0.75. Columbia Banking System has a 12-month low of $30.09 and a 12-month high of $50.68. The stock has a fifty-day moving average of $33.95.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 16. Shareholders of record on Wednesday, February 2 will receive a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 1. This represents an annualized dividend of $1.20 and a yield of 3.43%. Columbia Banking System’s payout rate is currently 39.22%.
Separately, director Tom Hulbert purchased 11,073 shares of the company in a trade on Friday, November 26. The shares were acquired at an average price of $32.21 per share, for a total transaction of $356,661.33. The acquisition was disclosed in a legal filing with the SEC, accessible via this hyperlink. 0.57% of the shares are currently held by insiders.
Several hedge funds have recently changed their holdings in the company. Russell Investments Group Ltd. increased its holdings of Columbia Banking System shares by 118.0% in the fourth quarter. Russell Investments Group Ltd. now owns 707,398 shares of the financial services provider valued at $23,142,000 after purchasing an additional 382,888 shares during the period. Western Financial Corporation increased its holdings of Columbia Banking System shares by 55.7% in the fourth quarter. Western Financial Corporation now owns 8,605 shares of the financial services provider valued at $282,000 after purchasing an additional 3,077 shares during the period. DeDora Capital Inc. acquired a new position in shares of Columbia Banking System in Q4 valued at approximately $244,000. Louisiana State Employees Retirement System increased its holdings in Columbia Banking System by 8.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the financial services provider worth $1,230,000 after purchasing 3,000 additional shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Columbia Banking System by 14.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 6,700 shares of the financial services provider worth $219,000 after purchasing an additional 850 shares during the period. 84.14% 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 banking; 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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