Zacks: Brokerages Anticipate Columbia Banking System Inc (COLB) Will Post Quarterly Sales of $142.70 Million
Analysts predict that Columbia Banking System Inc (NASDAQ:COLB) will post $142.70 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Columbia Banking System’s earnings. The highest sales estimate is $142.99 million and the lowest is $142.40 million. Columbia Banking System posted sales of $111.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.9%. The company is scheduled to issue its next earnings results on Thursday, April 26th.
On average, analysts expect that Columbia Banking System will report full-year sales of $142.70 million for the current year, with estimates ranging from $575.50 million to $576.56 million. For the next financial year, analysts expect that the company will post sales of $603.39 million per share, with estimates ranging from $599.80 million to $606.97 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.54 EPS for the quarter, missing the 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 business had revenue of $135.40 million for the quarter, compared to analysts’ expectations of $135.15 million. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis.
Shares of Columbia Banking System (NASDAQ:COLB) opened at $41.60 on Wednesday. Columbia Banking System has a twelve month low of $35.67 and a twelve month high of $48.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2,430.00, a price-to-earnings ratio of 18.91, a PEG ratio of 1.48 and a beta of 1.11.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. Columbia Banking System’s dividend payout ratio (DPR) is 40.00%.
In related news, CAO Barry Ray sold 750 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the transaction, the chief accounting officer now owns 11,250 shares in the company, valued at approximately $527,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.23% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Columbia Banking System by 27.4% in the 4th quarter. BlackRock Inc. now owns 9,307,225 shares of the financial services provider’s stock worth $404,306,000 after acquiring an additional 2,002,968 shares during the last quarter. Cardinal Capital Management LLC CT grew its position in Columbia Banking System by 0.3% during the 4th quarter. Cardinal Capital Management LLC CT now owns 2,218,622 shares of the financial services provider’s stock worth $96,377,000 after purchasing an additional 6,077 shares during the period. Neuberger Berman Group LLC grew its position in Columbia Banking System by 4.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,964,964 shares of the financial services provider’s stock worth $82,745,000 after purchasing an additional 80,731 shares during the period. Bank of New York Mellon Corp grew its position in Columbia Banking System by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,150,303 shares of the financial services provider’s stock worth $49,968,000 after purchasing an additional 121,284 shares during the period. Finally, Copper Rock Capital Partners LLC grew its position in Columbia Banking System by 3.6% during the 4th quarter. Copper Rock Capital Partners LLC now owns 926,341 shares of the financial services provider’s stock worth $40,796,000 after purchasing an additional 32,124 shares during the period. Institutional investors own 76.73% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.