Analysts expect Columbia Banking System Inc (NASDAQ:COLB) to post $0.67 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Columbia Banking System’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.65. Columbia Banking System posted earnings per share of $0.54 during the same quarter last year, which indicates a positive year-over-year growth rate of 24.1%. The business is scheduled to announce its next earnings results on Thursday, January 24th.
On average, analysts expect that Columbia Banking System will report full-year earnings of $2.47 per share for the current financial year, with EPS estimates ranging from $2.41 to $2.54. For the next financial year, analysts forecast that the company will post earnings of $2.83 per share, with EPS estimates ranging from $2.75 to $2.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Columbia Banking System had a return on equity of 8.66% and a net margin of 25.35%. The firm had revenue of $143.82 million for the quarter, compared to analyst estimates of $143.24 million.
A number of research analysts have recently commented on COLB shares. BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, July 21st. Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Monday, July 30th. Finally, ValuEngine cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $46.40.
In other Columbia Banking System news, EVP David C. Lawson sold 1,813 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $41.88, for a total transaction of $75,928.44. Following the completion of the sale, the executive vice president now directly owns 15,460 shares of the company’s stock, valued at $647,464.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.23% of the company’s stock.
A number of hedge funds have recently bought and sold shares of COLB. Laurion Capital Management LP purchased a new stake in Columbia Banking System during the second quarter valued at about $419,000. Xact Kapitalforvaltning AB lifted its stake in Columbia Banking System by 40.6% during the first quarter. Xact Kapitalforvaltning AB now owns 11,088 shares of the financial services provider’s stock valued at $465,000 after buying an additional 3,200 shares in the last quarter. Ramsey Quantitative Systems lifted its stake in Columbia Banking System by 176.7% during the second quarter. Ramsey Quantitative Systems now owns 15,421 shares of the financial services provider’s stock valued at $631,000 after buying an additional 9,848 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Columbia Banking System during the second quarter valued at about $634,000. Finally, Piedmont Investment Advisors LLC lifted its stake in Columbia Banking System by 9.3% during the second quarter. Piedmont Investment Advisors LLC now owns 17,065 shares of the financial services provider’s stock valued at $698,000 after buying an additional 1,453 shares in the last quarter. 89.85% of the stock is owned by institutional investors.
Shares of NASDAQ COLB traded up $0.07 during trading on Friday, reaching $37.50. 197,234 shares of the stock were exchanged, compared to its average volume of 373,614. Columbia Banking System has a twelve month low of $31.35 and a twelve month high of $48.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.75 billion, a P/E ratio of 17.12, a PEG ratio of 2.11 and a beta of 1.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. Columbia Banking System’s dividend payout ratio (DPR) is 47.49%.
About Columbia Banking System
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.
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