Second Quarter 2022 EPS Estimates for Columbia Banking System, Inc. (NASDAQ:COLB) Raised by Analyst

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Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) – Equity research analysts DA Davidson raised their estimates for second-quarter 2022 earnings per share for Columbia Banking System in a note to investors Thursday, June 30. DA Davidson analyst J. Rulis now expects the financial services provider to post earnings per share of $0.75 for the quarter, up from its previous estimate of $0.73. . Columbia Banking System’s current annual earnings consensus estimate is $2.61 per share.

Other stock analysts have also recently released research reports 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 Friday research note April 22. StockNews.com began covering Columbia Banking System in a research note on Thursday, March 31. They issued a “hold” rating on the stock. Raymond James lowered his price target on Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 22. Finally, Piper Sandler reduced her price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 research report. Four analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.60.

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Shares of COLB opened at $28.65 on Friday. The company’s 50-day simple moving average is $29.12 and its 200-day simple moving average is $32.29. The company has a market capitalization of $2.25 billion, a P/E ratio of 10.23 and a beta of 0.68. Columbia Banking System has a 1-year minimum of $26.97 and a 1-year maximum of $40.78. Colombia 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. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. The company posted revenue of $170.38 million for the quarter, compared to $166.09 million expected by analysts. During the same quarter last year, the company posted EPS of $0.73. The company’s revenue increased by 15.8% compared to the same quarter last year.

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. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Tuesday, May 3. Columbia Banking System’s dividend payout ratio (DPR) is currently 42.86%.

In other news, CFO Aaron James Cerf bought 3,000 shares of the company in a trade on Monday, May 2. The shares were acquired at an average price of $28.00 per share, with a total value of $84,000.00. As a result of the transaction, the CFO now directly owns 15,427 shares of the company, valued at approximately $431,956. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 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 cost of $28.52 per share, for a total transaction of $48,312.88. Following the acquisition, the administrator now owns 20,227 shares of the company, valued at $576,874.04. Disclosure of this purchase can be found here. Company insiders own 0.62% of the company’s shares.

A number of hedge funds and other institutional investors have recently increased or reduced their holdings in COLB. Crossmark Global Holdings Inc. increased its holdings of Columbia Banking System stock 6.3% in the first quarter. Crossmark Global Holdings Inc. now owns 7,120 shares of the financial services provider valued at $230,000 after acquiring an additional 420 shares last quarter. Mercer Global Advisors Inc. ADV increased its stake in Columbia Banking System by 3.0% in Q1. 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. Guggenheim Capital LLC increased its stake in Columbia Banking System by 5.1% in 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 raised its position in shares of Columbia Banking System by 6.5% in the fourth quarter. Profund Advisors LLC now owns 8,703 shares of the financial services provider worth $285,000 after purchasing an additional 529 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in Columbia Banking System shares by 5.5% during the 1st 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. Institutional investors and hedge funds 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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Earnings history and estimates for Columbia Banking System (NASDAQ:COLB)

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