Analysts Expect Columbia Banking System Inc (COLB) Will Announce Earnings of $0.69 Per Share

Analysts predict that Columbia Banking System Inc (NASDAQ:COLB) will report $0.69 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Columbia Banking System’s earnings. The lowest EPS estimate is $0.67 and the highest is $0.70. Columbia Banking System reported earnings of $0.50 per share in the same quarter last year, which suggests a positive year over year growth rate of 38%. The firm is expected to issue its next quarterly earnings report on Thursday, April 26th.

According to Zacks, analysts expect that Columbia Banking System will report full-year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.77 to $2.85. For the next fiscal year, analysts expect that the firm will report earnings of $3.04 per share, with EPS estimates ranging from $2.98 to $3.10. Zacks Investment Research’s earnings per share calculations are an 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 earnings results on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The company had revenue of $135.40 million during the quarter, compared to the consensus estimate of $135.15 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis.

COLB has been the topic of several analyst reports. Royal Bank of Canada reiterated a “hold” rating and issued a $46.00 target price on shares of Columbia Banking System in a report on Friday, January 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of Columbia Banking System in a report on Tuesday, January 9th. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research cut Columbia Banking System from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.00.

In other Columbia Banking System news, CAO Barry Ray sold 750 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total transaction of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares in the company, valued at approximately $527,287.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.23% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Carillon Tower Advisers Inc. bought a new position in shares of Columbia Banking System during the 4th quarter worth approximately $697,000. Eaton Vance Management raised its position in shares of Columbia Banking System by 6.6% during the fourth quarter. Eaton Vance Management now owns 287,655 shares of the financial services provider’s stock worth $12,496,000 after purchasing an additional 17,812 shares during the period. State of Tennessee Treasury Department raised its position in shares of Columbia Banking System by 12.3% during the fourth quarter. State of Tennessee Treasury Department now owns 57,474 shares of the financial services provider’s stock worth $2,497,000 after purchasing an additional 6,311 shares during the period. First Republic Investment Management Inc. raised its position in shares of Columbia Banking System by 21.8% during the fourth quarter. First Republic Investment Management Inc. now owns 40,628 shares of the financial services provider’s stock worth $1,765,000 after purchasing an additional 7,275 shares during the period. Finally, Baird Financial Group Inc. raised its position in shares of Columbia Banking System by 22.4% during the fourth quarter. Baird Financial Group Inc. now owns 82,959 shares of the financial services provider’s stock worth $3,604,000 after purchasing an additional 15,163 shares during the period. Hedge funds and other institutional investors own 76.73% of the company’s stock.

Shares of Columbia Banking System (COLB) traded up $0.14 during mid-day trading on Monday, reaching $41.66. The company had a trading volume of 191,548 shares, compared to its average volume of 272,212. Columbia Banking System has a 1-year low of $35.67 and a 1-year high of $48.06. The company has a market capitalization of $3,031.79, a PE ratio of 21.93, a PEG ratio of 1.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.82 and a quick ratio of 0.82.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, February 6th. Columbia Banking System’s payout ratio is 46.32%.

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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.

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