$163.35 Million in Sales Expected for Columbia Banking System, Inc. (NASDAQ:COLB) This Quarter

Equities analysts forecast that Columbia Banking System, Inc. (NASDAQ:COLBGet 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:COLBGet 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.

Several research analysts have commented on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Columbia Banking System in a report on Friday, February 11th. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research report on Thursday, March 31st. Finally, StockNews.com initiated coverage on shares of Columbia Banking System in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $37.80.

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.

Featured Stories

Get a free copy of the Zacks research report on Columbia Banking System (COLB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Columbia Banking System (NASDAQ:COLB)

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.