Research Analysts Set Expectations for Columbia Banking System, Inc.’s Third Quarter 2022 Earnings (NASDAQ:COLB)

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Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) – Analysts at DA Davidson released their third-quarter 2022 earnings estimates for Columbia Banking System shares in a research report released Friday, July 22. DA Davidson analyst J. Rulis expects the financial services provider to earn $0.37 per share for the quarter. Columbia Banking System’s current annual earnings consensus estimate is $2.73 per share.

Several other brokerages have also recently commented on COLB. Royal Bank of Canada raised its price target on Columbia Banking System shares from $35.00 to $36.00 and gave the company an ‘industry performance’ rating in a Friday 22 research report. april. Raymond James lowered his price target on Columbia Banking System stock from $38.00 to $34.00 and gave the stock an “outperform” rating in a Thursday, July 7 research note. Piper Sandler lowered her target price on Columbia Banking System stock from $35.00 to $31.00 in a Monday, May 2 research note. To finish, StockNews.com began covering Columbia Banking System shares in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Four research analysts rated the stock with a hold rating and two assigned the company a buy rating. According to data from MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Stock Performance

Shares of COLB Stock opened at $29.33 on Monday. Columbia Banking System has a one-year low of $26.97 and a one-year high of $40.78. The company’s 50-day moving average is $29.13 and its 200-day moving average is $31.93. The company has a market capitalization of $2.31 billion, a price-earnings ratio of 10.55 and a beta of 0.67.

Colombian banking system (NASDAQ:COLBGet a rating) last reported quarterly earnings data on Thursday, July 21. The financial services provider reported EPS of $0.75 for the quarter, missing the consensus estimate of $0.77 per ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. In the same quarter of the previous year, the company achieved EPS of $0.77.

Institutional investors weigh on Columbia’s banking system

A number of institutional investors and hedge funds have recently increased or reduced their stake in COLB. Earnest Partners LLC acquired a new stake in Columbia Banking System during the 4th quarter for a value of approximately $27,000. Covestor Ltd purchased a new stake in Columbia Banking System during Q4 for a value of approximately $28,000. Meeder Asset Management Inc. purchased a new stake in Columbia Banking System during Q1 worth approximately $41,000. Pinebridge Investments LP acquired a new stake in Columbia Banking System during Q4, valued at approximately $69,000. Finally, Howe & Rusling Inc. acquired a new stake in Columbia Banking System during Q1 worth approximately $88,000. Institutional investors hold 94.44% of the company’s shares.

Insider Trading at Columbia Banking System

In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf acquired 3,000 shares in a transaction dated Monday, May 2. The shares were purchased at an average price of $28.00 per share, for a total transaction of $84,000.00. Following the purchase, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The acquisition was disclosed in an SEC filing, available at this link. In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf acquired 3,000 shares in a transaction dated Monday, May 2. The shares were purchased at an average price of $28.00 per share, for a total transaction of $84,000.00. Following the purchase, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The acquisition was disclosed in an SEC filing, available at this link. Additionally, director Craig D. Eerkes purchased 1,694 shares of the company in a trade on Friday, June 10. The shares were purchased at an average price of $28.52 per share, for a total transaction of $48,312.88. As a result of the purchase, the administrator now owns 20,227 shares of the company, valued at approximately $576,874.04. Disclosure of this purchase can be found here. Insiders acquired 5,713 shares of the company worth $158,593 during the last quarter. Insiders of the company hold 0.62% of the shares of the company.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17. Shareholders of record on Wednesday, August 3 will receive a dividend of $0.30. This represents an annualized dividend of $1.20 and a dividend yield of 4.09%. The ex-dividend date is Tuesday, August 2. Columbia Banking System’s dividend payout ratio (DPR) is currently 43.17%.

About the Columbia Banking System

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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.

Further reading

Earnings history and estimates for Columbia Banking System (NASDAQ:COLB)



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