Analysts predict that Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) will report earnings per share (EPS) of $0.75 for the current quarter, according to Zacks. Two analysts made estimates of Columbia Banking System earnings. The lowest EPS estimate is $0.73 and the highest is $0.77. Columbia Banking System posted earnings of $0.77 per share in the same quarter last year, indicating a negative 2.6% year-over-year growth rate. The company is due to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Columbia Banking System to report annual earnings of $2.61 per share for the current fiscal year, with EPS estimates ranging from $1.87 to $3.10. For the next fiscal year, analysts expect the company to report earnings of $3.43 per share, with EPS estimates ranging from $3.16 to $3.65. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts who cover Columbia Banking System.
Colombian banking system (NASDAQ:COLB – Get a rating) last announced its quarterly results on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, beating the consensus estimate of $0.66 by $0.15. 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 in the quarter, versus a consensus estimate of $166.09 million. In the same quarter a year earlier, the company posted earnings per share of $0.73. The company’s revenue for the quarter increased by 15.8% compared to the same quarter last year.
Several equity research analysts have recently weighed in on COLB shares. Zacks Investment Research downgraded shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Friday, May 20. Piper Sandler cut her price target on shares of Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 report. Keefe, Bruyette & Woods began covering shares of Columbia Banking System in a report on Friday, February 11. They issued a “market performance” rating for the company. StockNews.com began covering shares of Columbia Banking System in a Thursday, March 31 report. They issued a “holding” rating for the company. Finally, Raymond James cut his price target on Columbia Banking System shares from $40.00 to $38.00 and set an “outperform” rating for the company in a Friday, April 22 report. Five investment analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.00.
In related news, CFO Aaron James Cerf acquired 3,000 shares of the company in a transaction on 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 acquisition, the CFO now owns 15,427 shares of the company, valued at $431,956. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. 0.62% of the shares are currently held by insiders.
Several institutional investors and hedge funds have recently changed their holdings in the company. Bank of New York Mellon Corp increased its stake in shares of Columbia Banking System by 19.9% in the third quarter. Bank of New York Mellon Corp now owns 1,627,370 shares of the financial services provider valued at $61,824,000 after buying an additional 270,428 shares last quarter. Charles Schwab Investment Management Inc. increased its position in Columbia Banking System shares by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,297 shares of the financial services provider valued at $23,438,000 after acquiring an additional 33,160 shares during the period. Ironwood Investment Management LLC increased its position in Columbia Banking System shares by 29.0% in the fourth quarter. Ironwood Investment Management LLC now owns 43,518 shares of the financial services provider valued at $1,424,000 after acquiring an additional 9,771 shares during the period. Sittner & Nelson LLC increased its position in Columbia Banking System shares by 656.1% in the fourth quarter. Sittner & Nelson LLC now owns 15,122 shares of the financial services provider valued at $495,000 after acquiring an additional 13,122 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of Columbia Banking System in the third quarter valued at approximately $329,000. Institutional investors hold 94.44% of the company’s shares.
Shares of COLB traded at $0.54 during midday trading on Monday, reaching $30.82. 1,059,723 shares of the stock were traded, compared to its average volume of 871,896. Columbia Banking System has a 1-year low of $27.61 and a 1-year high of $43.60. The company has a market capitalization of $2.42 billion, a PE ratio of 11.01 and a beta of 0.68. The company’s 50-day moving average price is $30.05 and its two-hundred-day moving average price is $32.91.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 3. This represents an annualized dividend of $1.20 and a yield of 3.89%. Columbia Banking System’s payout ratio is currently 42.86%.
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.
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