Q4 2024 EPS Estimates for Columbia Banking System, Inc. Raised by Wedbush (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLBFree Report) – Stock analysts at Wedbush raised their Q4 2024 earnings per share (EPS) estimates for Columbia Banking System in a research note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $0.67 per share for the quarter, up from their prior estimate of $0.56. Wedbush currently has a “Neutral” rating and a $24.00 price target on the stock. The consensus estimate for Columbia Banking System’s current full-year earnings is $2.31 per share.

Columbia Banking System (NASDAQ:COLBGet Free Report) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.35). Columbia Banking System had a net margin of 12.71% and a return on equity of 10.27%. The firm had revenue of $519.16 million for the quarter, compared to the consensus estimate of $525.94 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The firm’s revenue was up 52.5% compared to the same quarter last year.

Several other research analysts have also issued reports on COLB. Piper Sandler dropped their target price on Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. TheStreet downgraded Columbia Banking System from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Stephens downgraded Columbia Banking System from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $31.00 to $24.00 in a research report on Thursday, January 25th. StockNews.com cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Finally, Barclays assumed coverage on shares of Columbia Banking System in a research report on Friday, March 8th. They set an “equal weight” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.04.

Get Our Latest Research Report on COLB

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $19.35 on Friday. The firm has a market capitalization of $4.04 billion, a PE ratio of 11.73 and a beta of 0.70. The stock’s fifty day moving average is $19.26 and its 200 day moving average is $21.35. Columbia Banking System has a fifty-two week low of $17.18 and a fifty-two week high of $28.11.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date of this dividend was Thursday, February 22nd. Columbia Banking System’s dividend payout ratio is presently 87.27%.

Insider Buying and Selling at Columbia Banking System

In other news, VP Christopher Merrywell acquired 5,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was bought at an average cost of $21.09 per share, for a total transaction of $105,450.00. Following the purchase, the vice president now owns 50,727 shares in the company, valued at $1,069,832.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Columbia Banking System news, VP Christopher Merrywell acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average price of $21.09 per share, with a total value of $105,450.00. Following the purchase, the vice president now owns 50,727 shares in the company, valued at $1,069,832.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Schultz purchased 8,559 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $20.39 per share, with a total value of $174,518.01. Following the completion of the transaction, the director now directly owns 41,870 shares of the company’s stock, valued at $853,729.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 35,133 shares of company stock valued at $719,737 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Columbia Banking System

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Columbia Banking System in the fourth quarter worth approximately $32,000. Quarry LP acquired a new position in shares of Columbia Banking System in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Columbia Banking System by 1,506.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,326 shares during the period. First Pacific Financial purchased a new position in shares of Columbia Banking System during the 4th quarter worth $40,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Columbia Banking System during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Columbia Banking System

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Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.

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

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