Columbia Banking System, Inc. (COLB) Expected to Post Earnings of $0.51 Per Share

Equities research analysts expect Columbia Banking System, Inc. (NASDAQ:COLB) to report earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Columbia Banking System’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.48. Columbia Banking System reported earnings of $0.47 per share during the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The company is scheduled to report its next earnings results on Thursday, October 26th.

According to Zacks, analysts expect that Columbia Banking System will report full-year earnings of $2.06 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.10. For the next year, analysts anticipate that the firm will post earnings of $2.38 per share, with EPS estimates ranging from $2.30 to $2.43. Zacks’ earnings per share 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, July 27th. The financial services provider reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). Columbia Banking System had a net margin of 25.82% and a return on equity of 8.99%. The firm had revenue of $110.30 million during the quarter, compared to the consensus estimate of $112.27 million. During the same quarter in the previous year, the company posted $0.44 earnings per share.

A number of research analysts have recently commented on COLB shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $44.00 price target on shares of Columbia Banking System in a research report on Friday, June 16th. BidaskClub lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada reiterated a “hold” rating and issued a $42.00 target price on shares of Columbia Banking System in a research report on Friday, July 28th. Finally, Piper Jaffray Companies upgraded shares of Columbia Banking System from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.40.

Shares of Columbia Banking System (COLB) traded up 0.15% on Thursday, hitting $39.48. The stock had a trading volume of 10,294 shares. Columbia Banking System has a 1-year low of $31.75 and a 1-year high of $45.68. The firm has a 50-day moving average of $37.64 and a 200 day moving average of $38.69. The company has a market capitalization of $2.30 billion, a PE ratio of 20.05 and a beta of 1.24.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.88 annualized dividend and a yield of 2.23%. Columbia Banking System’s dividend payout ratio (DPR) is presently 44.67%.

TRADEMARK VIOLATION WARNING: “Columbia Banking System, Inc. (COLB) Expected to Post Earnings of $0.51 Per Share” was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright legislation. The original version of this story can be accessed at https://www.chaffeybreeze.com/2017/09/21/columbia-banking-system-inc-colb-expected-to-post-earnings-of-0-51-per-share.html.

A number of large investors have recently made changes to their positions in COLB. Flinton Capital Management LLC grew its position in Columbia Banking System by 98.1% in the second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,648 shares in the last quarter. D.A. Davidson & CO. grew its position in Columbia Banking System by 2.1% in the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 73 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new position in Columbia Banking System in the second quarter worth $188,000. Riverhead Capital Management LLC grew its position in Columbia Banking System by 102.4% in the second quarter. Riverhead Capital Management LLC now owns 5,262 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 2,662 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Columbia Banking System by 0.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 96.24% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

Get a free copy of the Zacks research report on Columbia Banking System (COLB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Columbia Banking System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply