Wall Street brokerages predict that Columbia Banking System Inc (NASDAQ:COLB) will announce earnings per share (EPS) of $0.61 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Columbia Banking System’s earnings, with estimates ranging from $0.60 to $0.62. Columbia Banking System reported earnings per share of $0.63 during the same quarter last year, which would suggest a negative year over year growth rate of 3.2%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, October 24th.
According to Zacks, analysts expect that Columbia Banking System will report full year earnings of $2.54 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.58. For the next financial year, analysts forecast that the business will report earnings of $2.55 per share, with EPS estimates ranging from $2.44 to $2.60. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. The firm had revenue of $150.76 million for the quarter, compared to analyst estimates of $147.22 million. During the same quarter last year, the firm posted $0.57 earnings per share.
Several equities analysts have issued reports on the company. ValuEngine upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. BidaskClub lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Zacks Investment Research lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada set a $38.00 target price on Columbia Banking System and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Stephens reiterated a “hold” rating and issued a $37.00 target price on shares of Columbia Banking System in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.43.
COLB traded up $0.23 on Monday, hitting $37.02. The company had a trading volume of 14,906 shares, compared to its average volume of 300,446. The stock has a fifty day moving average price of $35.97 and a 200-day moving average price of $35.57. Columbia Banking System has a 12-month low of $30.65 and a 12-month high of $41.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 2.04 and a beta of 1.10.
Several hedge funds have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. increased its position in shares of Columbia Banking System by 5.1% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 14,275 shares of the financial services provider’s stock worth $527,000 after purchasing an additional 693 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in Columbia Banking System in the 3rd quarter valued at $8,531,000. State of Alaska Department of Revenue grew its holdings in Columbia Banking System by 124.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 56,248 shares of the financial services provider’s stock valued at $2,075,000 after buying an additional 31,209 shares in the last quarter. Boston Partners grew its holdings in Columbia Banking System by 17.2% in the 2nd quarter. Boston Partners now owns 658,291 shares of the financial services provider’s stock valued at $23,768,000 after buying an additional 96,820 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Columbia Banking System by 1.0% in the 2nd quarter. BlackRock Inc. now owns 10,873,862 shares of the financial services provider’s stock valued at $393,416,000 after buying an additional 109,814 shares in the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.
Columbia Banking System Company Profile
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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