Analysts expect that Columbia Banking System Inc (NASDAQ:COLB) will report $134.21 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Columbia Banking System’s earnings. The lowest sales estimate is $133.40 million and the highest is $135.01 million. Columbia Banking System posted sales of $108.07 million during the same quarter last year, which would indicate a positive year over year growth rate of 24.2%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, January 25th.
On average, analysts expect that Columbia Banking System will report full-year sales of $134.21 million for the current fiscal year, with estimates ranging from $481.20 million to $482.83 million. For the next fiscal year, analysts expect that the firm will post sales of $590.72 million per share, with estimates ranging from $585.30 million to $596.13 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.18. The firm had revenue of $126.00 million for the quarter, compared to the consensus estimate of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm posted $0.47 earnings per share.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of Columbia Banking System from a “sell” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, January 8th. Finally, DA Davidson restated a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of Columbia Banking System in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.40.
In related news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.87, for a total transaction of $35,152.50. Following the completion of the sale, the chief accounting officer now directly owns 11,250 shares in the company, valued at $527,287.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.23% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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 last quarter. Goldman Sachs Group Inc. increased its position in shares of Columbia Banking System by 1.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,114,137 shares of the financial services provider’s stock valued at $84,248,000 after acquiring an additional 26,549 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Columbia Banking System by 4.3% during the third quarter. Neuberger Berman Group LLC now owns 1,964,964 shares of the financial services provider’s stock valued at $82,745,000 after acquiring an additional 80,731 shares during the last quarter. Northern Trust Corp increased its position in shares of Columbia Banking System by 15.7% during the second quarter. Northern Trust Corp now owns 1,242,536 shares of the financial services provider’s stock valued at $49,515,000 after acquiring an additional 169,018 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Columbia Banking System during the second quarter valued at about $44,762,000. Hedge funds and other institutional investors own 76.23% of the company’s stock.
Columbia Banking System (NASDAQ:COLB) traded up $0.43 during trading hours on Thursday, hitting $46.02. 219,737 shares of the stock traded hands, compared to its average volume of 309,588. The stock has a market capitalization of $2,690.00, a P/E ratio of 21.01, a P/E/G ratio of 1.83 and a beta of 1.25. Columbia Banking System has a 12-month low of $35.67 and a 12-month high of $48.06.
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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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