Brokerages Expect Columbia Banking System Inc (COLB) to Announce $0.68 Earnings Per Share

Wall Street brokerages forecast that Columbia Banking System Inc (NASDAQ:COLB) will post $0.68 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Columbia Banking System’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.67. Columbia Banking System posted earnings of $0.54 per share in the same quarter last year, which would indicate a positive year over year growth rate of 25.9%. The company is scheduled to announce its next earnings report on Thursday, January 24th.

On average, analysts expect that Columbia Banking System will report full-year earnings of $2.45 per share for the current year, with EPS estimates ranging from $2.44 to $2.46. For the next year, analysts anticipate that the firm will report earnings of $2.85 per share, with EPS estimates ranging from $2.79 to $2.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.01). The company had revenue of $143.82 million during the quarter, compared to analyst estimates of $143.24 million. Columbia Banking System had a net margin of 25.35% and a return on equity of 8.66%.

A number of equities analysts have commented on COLB shares. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. ValuEngine lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. BidaskClub raised Columbia Banking System from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. Piper Jaffray Companies set a $48.00 price objective on Columbia Banking System and gave the stock a “buy” rating in a research note on Saturday, October 27th. Finally, Sandler O’Neill raised Columbia Banking System from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Monday, November 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Columbia Banking System has a consensus rating of “Buy” and an average price target of $44.67.

COLB stock traded up $1.06 during trading on Tuesday, hitting $40.68. The company had a trading volume of 440,827 shares, compared to its average volume of 237,108. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 2.30 and a beta of 1.05. Columbia Banking System has a fifty-two week low of $31.35 and a fifty-two week high of $48.06.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Tuesday, November 6th. Columbia Banking System’s dividend payout ratio (DPR) is presently 47.49%.

In other news, EVP Andy Mcdonald sold 3,074 shares of the company’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $38.33, for a total transaction of $117,826.42. Following the transaction, the executive vice president now owns 35,589 shares of the company’s stock, valued at $1,364,126.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Columbia Banking System by 7.0% in the second quarter. BlackRock Inc. now owns 10,136,738 shares of the financial services provider’s stock valued at $414,593,000 after purchasing an additional 661,781 shares during the last quarter. Vanguard Group Inc. increased its holdings in Columbia Banking System by 2.0% in the third quarter. Vanguard Group Inc. now owns 7,522,600 shares of the financial services provider’s stock valued at $291,650,000 after purchasing an additional 148,645 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in Columbia Banking System by 48.8% in the second quarter. Eagle Asset Management Inc. now owns 407,967 shares of the financial services provider’s stock valued at $16,685,000 after purchasing an additional 133,704 shares during the last quarter. Man Group plc increased its holdings in Columbia Banking System by 410.2% in the third quarter. Man Group plc now owns 144,987 shares of the financial services provider’s stock valued at $5,621,000 after purchasing an additional 116,568 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Columbia Banking System by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,137,911 shares of the financial services provider’s stock valued at $121,655,000 after purchasing an additional 78,971 shares during the last quarter. 87.61% of the stock is currently owned by institutional investors and hedge funds.

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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