Zacks: Analysts Expect Columbia Banking System Inc (NASDAQ:COLB) to Announce $0.62 Earnings Per Share

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Equities research analysts expect Columbia Banking System Inc (NASDAQ:COLB) to report $0.62 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Columbia Banking System’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.60. Columbia Banking System also reported earnings per share of $0.62 during the same quarter last year. The company is expected to announce its next quarterly earnings results on Thursday, January 23rd.

On average, analysts expect that Columbia Banking System will report full year earnings of $2.63 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.70. For the next financial year, analysts forecast that the business will report earnings of $2.48 per share, with EPS estimates ranging from $2.44 to $2.55. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $150.48 million during the quarter, compared to analyst estimates of $146.70 million. Columbia Banking System had a net margin of 31.02% and a return on equity of 9.21%. During the same quarter in the previous year, the firm earned $0.63 EPS.

COLB has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $40.00 target price on shares of Columbia Banking System and gave the company a “hold” rating in a research report on Friday, October 25th. ValuEngine raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Stephens reaffirmed a “hold” rating and issued a $38.00 target price on shares of Columbia Banking System in a research report on Thursday, October 24th. BidaskClub raised shares of Columbia Banking System from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.75.

NASDAQ COLB traded up $0.17 on Tuesday, hitting $40.71. The company had a trading volume of 190,200 shares, compared to its average volume of 308,082. The company’s fifty day moving average price is $37.58 and its 200-day moving average price is $36.10. Columbia Banking System has a 12-month low of $30.65 and a 12-month high of $41.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $2.94 billion, a PE ratio of 16.48 and a beta of 1.08.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.12 annualized dividend and a yield of 2.75%. Columbia Banking System’s dividend payout ratio is currently 45.34%.

In other Columbia Banking System news, EVP David C. Lawson sold 1,164 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $39.95, for a total value of $46,501.80. Following the transaction, the executive vice president now directly owns 16,544 shares in the company, valued at $660,932.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP grew its position in shares of Columbia Banking System by 13.4% during the second quarter. First Trust Advisors LP now owns 100,356 shares of the financial services provider’s stock worth $3,631,000 after acquiring an additional 11,843 shares during the last quarter. Comerica Bank grew its position in shares of Columbia Banking System by 2.1% during the second quarter. Comerica Bank now owns 120,822 shares of the financial services provider’s stock worth $4,248,000 after acquiring an additional 2,451 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Columbia Banking System by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 28,873 shares of the financial services provider’s stock worth $1,045,000 after acquiring an additional 500 shares during the last quarter. Northern Trust Corp grew its position in shares of Columbia Banking System by 0.4% during the second quarter. Northern Trust Corp now owns 1,441,014 shares of the financial services provider’s stock worth $52,137,000 after acquiring an additional 6,244 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Columbia Banking System by 0.6% during the second quarter. Vanguard Group Inc. now owns 7,870,804 shares of the financial services provider’s stock worth $284,766,000 after acquiring an additional 49,422 shares during the last quarter. Institutional investors own 89.70% of the company’s stock.

Columbia Banking System Company Profile

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 Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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

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