Equities analysts expect Columbia Banking System Inc (NASDAQ:COLB) to post sales of $142.70 million for the current quarter, according to Zacks. Two analysts have issued estimates for Columbia Banking System’s earnings. The lowest sales estimate is $142.40 million and the highest is $142.99 million. Columbia Banking System posted sales of $111.53 million during the same quarter last year, which suggests a positive year-over-year growth rate of 27.9%. The business is expected to announce its next earnings results on Thursday, April 26th.
On average, analysts expect that Columbia Banking System will report full-year sales of $142.70 million for the current fiscal year, with estimates ranging from $575.50 million to $576.56 million. For the next year, analysts forecast that the firm will report sales of $603.39 million per share, with estimates ranging from $599.80 million to $606.97 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). The company had revenue of $135.40 million during the quarter, compared to the consensus estimate of $135.15 million. Columbia Banking System had a return on equity of 9.14% and a net margin of 23.29%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS.
COLB has been the subject of a number of research reports. Royal Bank of Canada reissued a “hold” rating and issued a $46.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 target price on shares of Columbia Banking System in a report on Tuesday, January 9th. BidaskClub cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $48.00.
In other news, CAO Barry Ray sold 750 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the transaction, the chief accounting officer now owns 11,250 shares of the company’s stock, valued at $527,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.23% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in COLB. Flinton Capital Management LLC increased its stake in shares of Columbia Banking System by 98.1% in the second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Columbia Banking System by 79.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,476 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Columbia Banking System in the fourth quarter valued at approximately $178,000. Teacher Retirement System of Texas acquired a new position in shares of Columbia Banking System in the third quarter valued at approximately $202,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Columbia Banking System in the third quarter valued at approximately $204,000. 76.73% of the stock is owned by institutional investors.
Columbia Banking System (NASDAQ:COLB) traded up $0.54 during mid-day trading on Wednesday, hitting $42.80. 327,121 shares of the stock were exchanged, compared to its average volume of 281,943. The company has a market capitalization 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 52-week low of $35.67 and a 52-week high of $48.06.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.06%. Columbia Banking System’s dividend payout ratio (DPR) is currently 46.32%.
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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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