Analysts predict that Columbia Banking System Inc (NASDAQ:COLB) will post earnings of $0.69 per share for the current quarter, according to Zacks. Two analysts have made estimates for Columbia Banking System’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.67. Columbia Banking System reported earnings per share of $0.50 during the same quarter last year, which suggests a positive year over year growth rate of 38%. The company is expected to issue its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that Columbia Banking System will report full-year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.77 to $2.85. For the next financial year, analysts expect that the company will post earnings of $3.04 per share, with EPS estimates ranging from $2.98 to $3.10. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). The business had revenue of $135.40 million during the quarter, compared to analyst estimates of $135.15 million. Columbia Banking System had a return on equity of 9.14% and a net margin of 23.29%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS.
COLB has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Columbia Banking System in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Columbia Banking System in a research note on Tuesday, January 9th. BidaskClub cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.00.
Shares of Columbia Banking System (COLB) traded up $0.54 on Monday, hitting $42.80. 327,121 shares of the stock traded hands, compared to its average volume of 281,943. The firm has a market cap of $3,085.82, a PE ratio of 22.53, a P/E/G ratio of 1.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.82 and a quick ratio of 0.82. Columbia Banking System has a 12 month low of $35.67 and a 12 month high of $48.06.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Tuesday, February 6th. Columbia Banking System’s dividend payout ratio (DPR) is currently 46.32%.
In other news, CAO Barry Ray sold 750 shares of Columbia Banking System stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares of the company’s stock, valued at $527,287.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.23% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. AMG National Trust Bank boosted its holdings in shares of Columbia Banking System by 26.5% during the third quarter. AMG National Trust Bank now owns 26,267 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 5,498 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Columbia Banking System by 1.6% during the second quarter. Vanguard Group Inc. now owns 5,452,239 shares of the financial services provider’s stock worth $217,272,000 after purchasing an additional 88,252 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Columbia Banking System during the third quarter worth approximately $262,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Columbia Banking System by 8.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 418,424 shares of the financial services provider’s stock worth $17,620,000 after purchasing an additional 32,542 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Columbia Banking System by 9.9% during the third quarter. Wells Fargo & Company MN now owns 250,047 shares of the financial services provider’s stock worth $10,530,000 after purchasing an additional 22,543 shares during the period. 76.73% of the stock is currently owned by institutional investors and hedge funds.
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Columbia Banking System Company Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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