Brokerages predict that Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) will report earnings of $0.66 per share for the current quarter, Zacks Investment Research reports. Two analysts made estimates for Columbia Banking System earnings, with the lowest EPS estimate of $0.62 and the highest estimate of $0.70. Columbia Banking System posted earnings per share of $0.73 in the same quarter last year, which would indicate a negative 9.6% year-over-year growth rate. The company is expected to release its next results before the market opens on Monday, January 1.
According to Zacks, analysts expect Columbia Banking System to report full year earnings of $2.66 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $3.06. For the next fiscal year, analysts expect the company to post earnings of $3.34 per share, with EPS estimates ranging from $3.03 to $3.50. Zacks Investment Research’s earnings per share averages are an average average based on a survey of sell-side research analysts who cover Columbia Banking System.
Colombian banking system (NASDAQ:COLB – Get a rating) last announced its results on Wednesday, January 19. The financial services provider reported earnings per share of $0.67 for the quarter, beating analysts’ consensus estimate of $0.56 by $0.11. Columbia Banking System had a return on equity of 8.91% and a net margin of 32.19%. The company posted revenue of $169.76 million for the quarter, versus a consensus estimate of $164.60 million. In the same quarter of the previous year, the company achieved EPS of $0.82.
Several stock analysts have recently commented on the company. Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a Thursday, March 31 research note. StockNews.com assumed coverage on Columbia Banking System in a Thursday, March 31, research note. They issued a “holding” rating on the stock. Finally, Keefe, Bruyette & Woods supported coverage of the Columbia banking system in a Friday, February 11 research note. They issued a “market performance” rating on the stock. Four research analysts gave the stock a hold rating, two gave the company a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat.com, Columbia Banking System currently has a consensus buy rating and an average target price of $37.80.
In other news, CFO Aaron James Cerf purchased 3,000 shares of the company in a transaction dated Thursday, February 24. The shares were purchased at an average price of $33.45 per share, with a total value of $100,350.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Company insiders own 0.62% of the company’s shares.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Earnest Partners LLC bought a new position in Columbia Banking System in the fourth quarter worth $27,000. Covestor Ltd bought a new position in shares of Columbia Banking System during the fourth quarter, valued at approximately $28,000. First Horizon Advisors Inc. increased its stake in shares of Columbia Banking System to 99.4% during the third quarter. First Horizon Advisors Inc. now owns 660 shares of the financial services provider valued at $31,000 after buying 329 additional shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Columbia Banking System during the fourth quarter worth approximately $56,000. Finally, Pinebridge Investments LP bought a new position in shares of Columbia Banking System during the fourth quarter worth approximately $69,000. 84.11% of the shares are currently held by institutional investors and hedge funds.
Columbia Banking System Action traded down $0.37 during Tuesday’s trading, hitting $29.82. The stock had trading volume of 706,361 shares, compared to an average volume of 887,827. Columbia Banking System has a 1-year low of $29.66 and a 1-year high of $45.05. The company’s 50-day moving average price is $34.20. The company has a market capitalization of $2.35 billion, a PE ratio of 10.69 and a beta of 0.63.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 16. Shareholders of record on Wednesday, February 2 received a dividend of $0.30 per share. The ex-dividend date was Tuesday, February 1. This represents an annualized dividend of $1.20 and a dividend yield of 4.02%. Columbia Banking System’s dividend payout ratio is currently 43.01%.
About the Columbia Banking System (Get a rating)
Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.
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