Equities Analysts Offer Predictions for Columbia Banking System, Inc.’s Q2 2022 Earnings (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) – Analysts at DA Davidson issued their Q2 2022 EPS estimates for shares of Columbia Banking System in a research note issued to investors on Friday, April 22nd. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings of $0.73 per share for the quarter. DA Davidson also issued estimates for Columbia Banking System’s FY2022 earnings at $2.70 EPS and FY2023 earnings at $3.50 EPS.

Columbia Banking System (NASDAQ:COLBGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. Columbia Banking System had a net margin of 31.91% and a return on equity of 9.30%. The firm had revenue of $170.38 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of 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 note on Thursday, March 31st. Keefe, Bruyette & Woods started coverage on shares of Columbia Banking System in a research note on Friday, February 11th. They issued a “market perform” rating on the stock. Raymond James decreased their price target on shares of Columbia Banking System from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday. StockNews.com started coverage on shares of Columbia Banking System in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Columbia Banking System currently has an average rating of “Buy” and a consensus price target of $37.00.

Shares of Columbia Banking System stock opened at $31.37 on Monday. Columbia Banking System has a 12-month low of $29.22 and a 12-month high of $45.05. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 11.20 and a beta of 0.63. The company’s 50-day moving average price is $33.44 and its 200-day moving average price is $34.41.

A number of institutional investors have recently made changes to their positions in the stock. Boston Trust Walden Corp boosted its stake in Columbia Banking System by 4.0% in the 1st quarter. Boston Trust Walden Corp now owns 603,066 shares of the financial services provider’s stock worth $19,461,000 after purchasing an additional 23,363 shares in the last quarter. Carolina Wealth Advisors LLC raised its position in Columbia Banking System by 2.0% in the 1st quarter. Carolina Wealth Advisors LLC now owns 78,855 shares of the financial services provider’s stock worth $2,545,000 after buying an additional 1,516 shares during the last quarter. Nordea Investment Management AB purchased a new position in Columbia Banking System in the 1st quarter worth about $5,355,000. Everence Capital Management Inc. raised its position in Columbia Banking System by 43.2% in the 1st quarter. Everence Capital Management Inc. now owns 11,000 shares of the financial services provider’s stock worth $355,000 after buying an additional 3,320 shares during the last quarter. Finally, Norges Bank purchased a new position in Columbia Banking System in the 4th quarter worth about $22,743,000. Institutional investors own 84.11% of the company’s stock.

In other Columbia Banking System news, CFO Aaron James Deer bought 3,000 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were purchased at an average price of $33.45 per share, for a total transaction of $100,350.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.62% 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.

See Also

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

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