Equities research analysts expect that Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) will post sales of $176.90 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Columbia Banking System’s earnings. The highest sales estimate is $177.30 million and the lowest is $176.50 million. Columbia Banking System posted sales of $146.21 million in the same quarter last year, which would indicate a positive year over year growth rate of 21%. The firm is scheduled to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Columbia Banking System will report full-year sales of $1.36 billion for the current financial year, with estimates ranging from $1.34 billion to $1.37 billion. For the next financial year, analysts forecast that the firm will report sales of $2.11 billion, with estimates ranging from $2.07 billion to $2.15 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Columbia Banking System.
Columbia Banking System (NASDAQ:COLB – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.15. Columbia Banking System had a return on equity of 9.30% and a net margin of 31.91%. The company had revenue of $170.38 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter last year, the company earned $0.73 EPS. Columbia Banking System’s revenue for the quarter was up 15.8% compared to the same quarter last year.
NASDAQ:COLB opened at $29.00 on Thursday. The stock has a market capitalization of $2.28 billion, a PE ratio of 10.36 and a beta of 0.68. The firm has a fifty day simple moving average of $31.24 and a 200 day simple moving average of $33.49. Columbia Banking System has a 1-year low of $27.61 and a 1-year high of $44.13.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18th. Stockholders of record on Wednesday, May 4th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, May 3rd. Columbia Banking System’s payout ratio is presently 42.86%.
In other news, CFO Aaron James Deer acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were acquired at an average cost of $28.00 per share, with a total value of $84,000.00. Following the completion of the purchase, the chief financial officer now directly owns 15,427 shares of the company’s stock, valued at approximately $431,956. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Earnest Partners LLC bought a new stake in shares of Columbia Banking System during the 4th quarter valued at approximately $27,000. Covestor Ltd acquired a new stake in shares of Columbia Banking System during the 4th quarter valued at $28,000. First Horizon Advisors Inc. grew its position in Columbia Banking System by 99.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 660 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 329 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Columbia Banking System in the 1st quarter worth about $41,000. Finally, Neo Ivy Capital Management bought a new position in Columbia Banking System in the fourth quarter valued at about $56,000. 94.44% of the stock is owned by hedge funds and other institutional investors.
Columbia Banking System Company Profile (Get Rating)
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.
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