Columbia Banking System (COLB) Scheduled to Post Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) will post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Columbia Banking System to post earnings of $0.54 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.35). Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The firm had revenue of $519.16 million for the quarter, compared to analyst estimates of $525.94 million. During the same period in the prior year, the company posted $0.93 EPS. The firm’s quarterly revenue was up 52.5% compared to the same quarter last year. On average, analysts expect Columbia Banking System to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Columbia Banking System Stock Performance

NASDAQ:COLB opened at $17.49 on Thursday. The stock’s fifty day moving average price is $18.52 and its two-hundred day moving average price is $21.19. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $28.11. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 10.60 and a beta of 0.71.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s dividend payout ratio (DPR) is currently 87.27%.

Insiders Place Their Bets

In other news, VP Christopher Merrywell bought 5,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was purchased at an average price of $21.09 per share, for a total transaction of $105,450.00. Following the acquisition, 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 SEC, which is accessible through the SEC website. In other news, VP Christopher Merrywell bought 5,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was purchased at an average price of $21.09 per share, for a total transaction of $105,450.00. Following the acquisition, 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 SEC, which is accessible through the SEC website. Also, Director Elizabeth Whitehead Seaton bought 2,685 shares of the stock in a transaction on Tuesday, February 6th. The shares were purchased at an average price of $18.48 per share, with a total value of $49,618.80. Following the acquisition, the director now owns 25,001 shares in the company, valued at approximately $462,018.48. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 35,133 shares of company stock worth $719,737. Corporate insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Columbia Banking System

A number of large investors have recently modified their holdings of COLB. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Columbia Banking System during the 1st quarter worth about $484,000. PNC Financial Services Group Inc. lifted its stake in Columbia Banking System by 26.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,310 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 1,120 shares during the last quarter. Bank of Montreal Can lifted its stake in Columbia Banking System by 2.7% in the 1st quarter. Bank of Montreal Can now owns 23,253 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 620 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Columbia Banking System by 56.3% in the 1st quarter. MetLife Investment Management LLC now owns 42,283 shares of the financial services provider’s stock valued at $1,364,000 after purchasing an additional 15,237 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Columbia Banking System by 3.4% in the 1st quarter. Rhumbline Advisers now owns 232,909 shares of the financial services provider’s stock valued at $7,516,000 after purchasing an additional 7,638 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COLB has been the topic of a number of analyst reports. Citigroup cut their price target on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. JPMorgan Chase & Co. cut their price target on Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, April 4th. TheStreet downgraded Columbia Banking System from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. Royal Bank of Canada cut their price target on Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Finally, Piper Sandler cut their price target on Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.42.

About Columbia Banking System

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.