Stock analysts offer forecast for Columbia Banking System, Inc.’s second quarter 2022 earnings (NASDAQ:COLB)

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Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) – Analysts at DA Davidson released their second-quarter 2022 EPS estimates for Columbia Banking System shares in a research note released to investors on Friday, April 22. DA Davidson analyst J. Rulis expects the financial services provider to post earnings of $0.73 per share for the quarter. DA Davidson also released estimates for Columbia Banking System’s fiscal year 2022 earnings at $2.70 EPS and fiscal year 2023 earnings at $3.50 EPS.

Colombian banking system (NASDAQ:COLBGet a rating) last announced its quarterly results on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $0.74 for the quarter, beating analyst consensus estimates of $0.68 by $0.06. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The company posted revenue of $170.38 million for the quarter, versus a consensus estimate of $166.09 million. In the same period a year earlier, the company posted earnings per share of $0.73. The company’s revenue for the quarter increased 15.8% year over year.

A number of other equity research analysts have also recently weighed in on the stock. Zacks Investment Research moved 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 research note. Keefe, Bruyette & Woods began covering Columbia Banking System shares in a research note on Friday, February 11. They issued a “market performance” rating on the stock. Raymond James lowered his price target on Columbia Banking System shares from $40.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday. 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. Finally, Royal Bank of Canada raised its price target on Columbia Banking System shares from $35.00 to $36.00 and gave the stock an “industry performance” rating in a research note. friday. Four investment analysts gave the stock a hold rating, two gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, Columbia Banking System currently has an average rating of “Buy” and a consensus price target of $37.00.

Shares of Columbia Banking System Action opened at $31.37 on Monday. Columbia Banking System has a 12 month minimum of $29.22 and a 12 month maximum of $45.05. The company has a market capitalization of $2.47 billion, a price-earnings ratio of 11.20 and a beta of 0.63. The company’s 50-day moving average price is $33.44 and its 200-day moving average price is $34.41.

A number of institutional investors have recently changed their positions in the stock. Boston Trust Walden Corp increased its stake in Columbia Banking System by 4.0% in the first quarter. Boston Trust Walden Corp now owns 603,066 shares of the financial services provider worth $19,461,000 after buying an additional 23,363 shares last quarter. Carolina Wealth Advisors LLC raised its position in Columbia Banking System by 2.0% in the 1st quarter. Carolina Wealth Advisors LLC now owns 78,855 shares of the financial services provider worth $2,545,000 after buying an additional 1,516 shares in the last quarter. Nordea Investment Management AB bought a new position in Columbia Banking System in Q1 worth approximately $5,355,000. Everence Capital Management Inc. increased its position in Columbia Banking System by 43.2% in the 1st quarter. Everence Capital Management Inc. now owns 11,000 shares of the financial services provider worth $355,000 after buying 3,320 additional shares in the last quarter. Finally, Norges Bank bought a new position in Columbia Banking System in Q4 for a value of approximately $22,743,000. Institutional investors hold 84.11% of the company’s shares.

In other news from Columbia’s banking system, Chief Financial Officer Aaron James Cerf purchased 3,000 shares of the company in a transaction dated Thursday, February 24. The shares were purchased at an average price of $33.45 per share, for a total transaction of $100,350.00. The purchase was disclosed in a legal filing with the SEC, available at this link. Insiders own 0.62% of the shares of the company.

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.

See also

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



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