Equity research analysts expect Columbia Banking System, Inc. (NASDAQ:COLB) to post earnings of $0.66 per share for the current quarter, according to Zacks Investment Research. Two analysts made estimates for Columbia Banking System earnings, with estimates ranging from $0.62 to $0.70. Columbia Banking System reported earnings per share of $0.73 in the same quarter last year, which would suggest a negative 9.6% year-over-year growth rate. The company is expected to release its next results on Thursday, May 5.
According to Zacks, analysts expect Columbia Banking System to report annual earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $2.50. For next year, analysts expect the company to report earnings of $3.34 per share, with EPS estimates ranging from $3.03 to $3.50. Zacks Investment Research’s EPS calculations are an average average based on a survey of analysts who follow Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last reported results on Wednesday, January 19. The financial services provider reported earnings per share (EPS) of $0.55 for the quarter, missing the consensus estimate of $0.59 per ($0.04). Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. In the same quarter of the previous year, the company achieved EPS of $0.82.
COLB has been the subject of several research analyst reports. Royal Bank of Canada cut its price target on Columbia Banking System shares from $42.00 to $38.00 and set an “industry performance” rating for the company in a Wednesday 13 research report October. Zacks Investment Research downgraded shares of Columbia Banking System from a “hold” rating to a “strong sell” rating in a Monday, Jan. 24, research report. DA Davidson upgraded Columbia Banking System shares from a ‘neutral’ to a ‘buy’ rating and raised its price target for the stock from $39.00 to $41.00 in a research report Wednesday, October 13. Raymond James cut his price target on Columbia Banking System shares from $43.00 to $40.00 and set an “outperform” rating for the company in a Monday, Nov. 1 research report. Finally, Stephens cut his price target on Columbia Banking System shares from $40.00 to $32.00 and set an “equal weight” rating for the company in a Wednesday, Oct. 13 research report. One research analyst has assigned the stock a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.67.
COLB opened at $34.59 on Thursday. Columbia Banking System has a 12-month low of $30.09 and a 12-month high of $50.68. The stock’s 50-day moving average is $33.99. The company has a market capitalization of $2.72 billion, a P/E ratio of 12.40 and a beta of 0.69.
The company also recently announced 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. The ex-dividend date is Tuesday, February 1. This represents a dividend of $1.20 on an annualized basis and a yield of 3.47%. Columbia Banking System’s payout rate is 43.01%.
In other Columbia Banking System news, Director Tom Hulbert acquired 11,073 shares of the company in a transaction on Friday, November 26. The stock was purchased at an average price of $32.21 per share, for a total transaction of $356,661.33. The purchase was disclosed in an SEC filing, available at this hyperlink. 0.57% of the shares are currently held by company insiders.
Several hedge funds and other institutional investors have recently changed their positions in COLB. Deutsche Bank AG increased its equity stake in Columbia Banking System by 137.8% during the second quarter. Deutsche Bank AG now owns 130,282 shares of the financial services provider worth $5,024,000 after buying an additional 75,488 shares in the last quarter. Bank of Montreal Can increased its equity stake in Columbia Banking System by 16.9% during the second quarter. Bank of Montreal Can now owns 25,549 shares of the financial services provider worth $991,000 after buying 3,689 additional shares in the last quarter. SG Americas Securities LLC increased its equity stake in Columbia Banking System by 5.7% during the second quarter. SG Americas Securities LLC now owns 7,137 shares of the financial services provider worth $275,000 after buying 386 additional shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Columbia Banking System during Q2 valued at approximately $4,820,000. Finally, AlphaCrest Capital Management LLC increased its stake in Columbia Banking System shares by 50.3% during the second quarter. AlphaCrest Capital Management LLC now owns 26,248 shares of the financial services provider worth $1,012,000 after buying 8,789 additional shares in the last quarter. Institutional investors and hedge funds hold 84.14% of the company’s shares.
Columbia Banking System Company Profile
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 bank; personal loans; real estate loans; foreign currency; professional bank; finance management; merchant card services; international bank; financial services; private banking; and trust and investment services.
Featured Story: Maintain Rating
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Columbia Banking System right now?
Before you consider Columbia Banking System, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Columbia Banking System wasn’t on the list.
While Columbia Banking System currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here