Columbia Banking System (COLB) to Release Earnings on Thursday

Columbia Banking System (NASDAQ:COLBGet Rating) will be releasing its earnings data before the market opens on Thursday, April 21st. Analysts expect Columbia Banking System to post earnings of $0.66 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Columbia Banking System (NASDAQ:COLBGet Rating) last posted its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $0.67 earnings per share for the quarter, beating the Zacks’ 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 had revenue of $169.76 million for the quarter, compared to analysts’ expectations of $164.60 million. During the same period last year, the firm earned $0.82 earnings per share. On average, analysts expect Columbia Banking System to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Columbia Banking System stock opened at $30.47 on Thursday. Columbia Banking System has a 1-year low of $29.22 and a 1-year high of $45.05. The stock has a market cap of $2.40 billion, a PE ratio of 10.92 and a beta of 0.63. The stock’s fifty day moving average is $34.12 and its two-hundred day moving average is $34.66.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 16th. Shareholders of record on Wednesday, February 2nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Tuesday, February 1st. Columbia Banking System’s dividend payout ratio is presently 43.01%.

In related news, CFO Aaron James Deer purchased 3,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp boosted its holdings in Columbia Banking System by 10.9% in the 4th quarter. Stifel Financial Corp now owns 91,332 shares of the financial services provider’s stock valued at $2,988,000 after purchasing an additional 8,980 shares in the last quarter. Deutsche Bank AG boosted its holdings in Columbia Banking System by 73.4% in the 4th quarter. Deutsche Bank AG now owns 88,493 shares of the financial services provider’s stock valued at $2,895,000 after purchasing an additional 37,472 shares in the last quarter. Comerica Bank boosted its holdings in Columbia Banking System by 5.0% in the 4th quarter. Comerica Bank now owns 68,356 shares of the financial services provider’s stock valued at $2,466,000 after purchasing an additional 3,266 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Columbia Banking System by 35.4% in the 4th quarter. Glenmede Trust Co. NA now owns 47,714 shares of the financial services provider’s stock valued at $1,561,000 after purchasing an additional 12,478 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its holdings in Columbia Banking System by 5.0% in the 4th quarter. State of Tennessee Treasury Department now owns 40,530 shares of the financial services provider’s stock valued at $1,327,000 after purchasing an additional 1,945 shares in the last quarter. 84.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on COLB shares. StockNews.com started coverage on Columbia Banking System in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Keefe, Bruyette & Woods started coverage on Columbia Banking System in a research report on Friday, February 11th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Thursday, March 31st. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $37.80.

About Columbia Banking System (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.

Read More

Earnings History 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.