Brokerages Expect Columbia Banking System Inc (COLB) Will Post Quarterly Sales of $142.70 Million

Analysts forecast that Columbia Banking System Inc (NASDAQ:COLB) will announce $142.70 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Columbia Banking System’s earnings, with estimates ranging from $142.40 million to $142.99 million. Columbia Banking System reported sales of $111.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.9%. The company is scheduled to report its next earnings report on Thursday, April 26th.

On average, analysts expect that Columbia Banking System will report full year sales of $142.70 million for the current financial year, with estimates ranging from $575.50 million to $576.56 million. For the next year, analysts expect that the business will post sales of $603.39 million per share, with estimates ranging from $599.80 million to $606.97 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last released 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). The company had revenue of $135.40 million for the quarter, compared to analyst estimates of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. Piper Jaffray Companies set a $52.00 price objective on shares of Columbia Banking System and gave the stock a “buy” rating in a research note on Tuesday, January 30th. BidaskClub raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Sandler O’Neill reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Columbia Banking System in a research note on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Columbia Banking System in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.00.

Columbia Banking System (NASDAQ:COLB) opened at $41.60 on Wednesday. The company has a market cap of $2,430.00, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.82 and a current ratio of 0.82. Columbia Banking System has a 52 week low of $35.67 and a 52 week high of $48.06.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, February 6th. Columbia Banking System’s dividend payout ratio (DPR) is currently 40.00%.

In other news, CAO Barry Ray sold 750 shares of Columbia Banking System stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the transaction, the chief accounting officer now directly owns 11,250 shares of the company’s stock, valued at $527,287.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.23% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in COLB. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Columbia Banking System by 4.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 5,840 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 238 shares during the period. Sei Investments Co. boosted its holdings in shares of Columbia Banking System by 10.0% during the third quarter. Sei Investments Co. now owns 13,070 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 1,183 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Columbia Banking System by 79.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,476 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of Columbia Banking System by 98.1% during the second quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,648 shares during the period. Finally, Commonwealth Equity Services Inc boosted its holdings in shares of Columbia Banking System by 33.4% during the third quarter. Commonwealth Equity Services Inc now owns 7,052 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 1,765 shares during the period. 76.73% of the stock is currently owned by institutional investors and hedge funds.

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About Columbia Banking System

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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