Brokerages Expect Columbia Banking System Inc (COLB) to Announce $0.69 Earnings Per Share

Equities analysts expect Columbia Banking System Inc (NASDAQ:COLB) to announce $0.69 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Columbia Banking System’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.67. Columbia Banking System posted earnings of $0.50 per share during the same quarter last year, which indicates a positive year over year growth rate of 38%. The business is expected to announce its next earnings report before the market opens 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 year, analysts anticipate that the business 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 averages are a mean average based on a survey of sell-side research analysts that cover Columbia Banking System.

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Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). The firm had revenue of $135.40 million during the quarter, compared to the consensus estimate of $135.15 million. Columbia Banking System had a return on equity of 9.14% and a net margin of 23.29%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS.

COLB has been the topic of a number of analyst reports. BidaskClub cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Piper Jaffray reiterated a “buy” rating and issued a $53.00 price target on shares of Columbia Banking System in a research note on Tuesday, January 9th. Royal Bank of Canada reissued a “hold” rating and issued a $46.00 target price on shares of Columbia Banking System in a research report on Friday, January 26th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $48.00 target price on shares of Columbia Banking System in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $47.33.

Columbia Banking System stock traded up $0.26 during mid-day trading on Wednesday, reaching $42.21. The stock had a trading volume of 19,128 shares, compared to its average volume of 280,447. The stock has a market cap of $3,063.98, a price-to-earnings ratio of 19.16, a PEG ratio of 1.50 and a beta of 1.05. Columbia Banking System has a one year low of $35.67 and a one year high of $48.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.82 and a quick ratio of 0.82.

In other news, CFO Clint Stein sold 2,300 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $44.16, for a total transaction of $101,568.00. Following the completion of the sale, the chief financial officer now owns 26,610 shares of the company’s stock, valued at approximately $1,175,097.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in COLB. Sei Investments Co. increased its holdings in Columbia Banking System by 10.0% in the 3rd quarter. Sei Investments Co. now owns 13,070 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 1,183 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Columbia Banking System by 12.7% in the 3rd quarter. New York State Common Retirement Fund now owns 88,153 shares of the financial services provider’s stock worth $3,712,000 after acquiring an additional 9,918 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Columbia Banking System in the 3rd quarter worth approximately $262,000. American International Group Inc. increased its holdings in Columbia Banking System by 5.8% in the 3rd quarter. American International Group Inc. now owns 46,128 shares of the financial services provider’s stock worth $1,942,000 after acquiring an additional 2,510 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Columbia Banking System by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 114,489 shares of the financial services provider’s stock worth $4,823,000 after acquiring an additional 2,412 shares in the last quarter. 88.03% of the stock is owned by institutional investors.

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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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