Columbia Banking System (COLB) Scheduled to Post Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.35). The firm had revenue of $519.16 million for the quarter, compared to analysts’ expectations of $525.94 million. Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. Columbia Banking System’s revenue was up 52.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. On average, analysts expect Columbia Banking System to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Columbia Banking System Price Performance

COLB opened at $18.79 on Tuesday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 11.39 and a beta of 0.71. The firm’s fifty day moving average price is $18.48 and its two-hundred day moving average price is $21.18. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $28.11.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s dividend payout ratio is 87.27%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Citigroup lowered their target price on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Royal Bank of Canada lowered their target price on Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Stephens cut Columbia Banking System from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $31.00 to $24.00 in a research note on Thursday, January 25th. Finally, UBS Group lowered their target price on Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating on the stock in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and a consensus target price of $22.42.

Insiders Place Their Bets

In related news, CFO Ron L. Farnsworth acquired 2,500 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $20.71 per share, for a total transaction of $51,775.00. Following the completion of the transaction, the chief financial officer now owns 160,073 shares of the company’s stock, valued at approximately $3,315,111.83. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director John F. Schultz acquired 8,559 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $20.39 per share, for a total transaction of $174,518.01. Following the completion of the transaction, the director now owns 41,870 shares of the company’s stock, valued at approximately $853,729.30. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ron L. Farnsworth acquired 2,500 shares of the stock in a transaction on Monday, January 29th. The stock was bought at an average price of $20.71 per share, with a total value of $51,775.00. Following the transaction, the chief financial officer now directly owns 160,073 shares of the company’s stock, valued at approximately $3,315,111.83. The disclosure for this purchase can be found here. Insiders bought a total of 35,133 shares of company stock valued at $719,737 over the last quarter. 0.59% of the stock is owned by corporate insiders.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.