Zacks: Brokerages Anticipate Columbia Banking System, Inc. (NASDAQ:COLB) to Post $0.48 Earnings Per Share
Wall Street brokerages forecast that Columbia Banking System, Inc. (NASDAQ:COLB) will post $0.48 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Columbia Banking System’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.47. Columbia Banking System posted earnings of $0.44 per share in the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The company is scheduled to announce its next earnings report before the market opens on Thursday, July 27th.
On average, analysts expect that Columbia Banking System will report full-year earnings of $2.04 per share for the current year, with EPS estimates ranging from $2.00 to $2.07. For the next year, analysts anticipate that the firm will report earnings of $2.29 per share, with EPS estimates ranging from $2.28 to $2.30. 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 posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $111.53 million during the quarter, compared to analyst estimates of $110.72 million. Columbia Banking System had a net margin of 25.82% and a return on equity of 8.90%. During the same quarter in the previous year, the business posted $0.40 EPS.
COLB has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research note on Tuesday, May 9th. DA Davidson upgraded shares of Columbia Banking System from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, March 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.00 price target on shares of Columbia Banking System in a research note on Friday, June 16th. Finally, Piper Jaffray Companies decreased their price target on shares of Columbia Banking System from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.80.
In other Columbia Banking System news, CFO Clint Stein sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $40.09, for a total transaction of $320,720.00. Following the sale, the chief financial officer now owns 22,877 shares of the company’s stock, valued at $917,138.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.23% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Columbia Banking System by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,087,588 shares of the financial services provider’s stock worth $81,395,000 after buying an additional 132,231 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in Columbia Banking System by 70.4% in the first quarter. Tudor Investment Corp ET AL now owns 9,313 shares of the financial services provider’s stock worth $363,000 after buying an additional 3,849 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Columbia Banking System by 18.0% in the first quarter. Westwood Holdings Group Inc. now owns 378,090 shares of the financial services provider’s stock worth $14,742,000 after buying an additional 57,805 shares during the last quarter. Paloma Partners Management Co bought a new stake in Columbia Banking System during the first quarter worth $479,000. Finally, State Street Corp boosted its stake in Columbia Banking System by 74.9% in the first quarter. State Street Corp now owns 2,754,433 shares of the financial services provider’s stock worth $107,399,000 after buying an additional 1,179,254 shares during the last quarter. 94.87% of the stock is currently owned by institutional investors.
Columbia Banking System (NASDAQ COLB) traded down 0.79% on Monday, hitting $39.96. 105,645 shares of the company traded hands. The firm has a market capitalization of $2.33 billion, a P/E ratio of 20.60 and a beta of 1.22. Columbia Banking System has a 12 month low of $26.21 and a 12 month high of $45.68. The stock’s 50-day moving average is $38.91 and its 200 day moving average is $40.09.
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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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