Equities analysts forecast that Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) will post $163.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Columbia Banking System’s earnings, with estimates ranging from $160.20 million to $166.50 million. Columbia Banking System posted sales of $147.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 11%. The business is scheduled to issue its next earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Columbia Banking System will report full-year sales of $1.31 billion for the current year. For the next year, analysts forecast that the company will report sales of $2.04 billion, with estimates ranging from $2.01 billion to $2.08 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Columbia Banking System.
Columbia Banking System (NASDAQ:COLB – Get Rating) last announced its earnings results on Wednesday, January 19th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. Columbia Banking System had a net margin of 32.19% and a return on equity of 8.91%. The company had revenue of $169.76 million during the quarter, compared to analysts’ expectations of $164.60 million. During the same period last year, the company posted $0.82 earnings per share.
Shares of COLB traded down $0.37 during midday trading on Thursday, hitting $29.82. The stock had a trading volume of 706,361 shares, compared to its average volume of 887,827. Columbia Banking System has a fifty-two week low of $29.66 and a fifty-two week high of $45.05. The stock’s 50-day moving average price is $34.20. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 10.69 and a beta of 0.63.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 16th. Investors of record on Wednesday, February 2nd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.02%. The ex-dividend date was Tuesday, February 1st. Columbia Banking System’s payout ratio is presently 43.01%.
In other Columbia Banking System news, CFO Aaron James Deer acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in Columbia Banking System by 99.4% during the third quarter. First Horizon Advisors Inc. now owns 660 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 329 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Columbia Banking System by 5.1% in the third quarter. Guggenheim Capital LLC now owns 9,617 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 469 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Columbia Banking System by 6.5% in the fourth quarter. Profund Advisors LLC now owns 8,703 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 529 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of Columbia Banking System by 3.5% in the third quarter. First Republic Investment Management Inc. now owns 16,154 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 551 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Columbia Banking System by 0.5% in the fourth quarter. New York State Teachers Retirement System now owns 123,692 shares of the financial services provider’s stock worth $4,047,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 84.11% of the company’s stock.
Columbia Banking System Company Profile (Get Rating)
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 the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.
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