FY2024 EPS Estimates for Columbia Banking System, Inc. Boosted by Analyst (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB) – Research analysts at Wedbush raised their FY2024 EPS estimates for Columbia Banking System in a report issued on Wednesday, October 9th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $2.51 per share for the year, up from their previous estimate of $2.50. Wedbush has a “Outperform” rating and a $31.00 price target on the stock. The consensus estimate for Columbia Banking System’s current full-year earnings is $2.55 per share. Wedbush also issued estimates for Columbia Banking System’s Q4 2024 earnings at $0.63 EPS and Q4 2025 earnings at $0.66 EPS.

COLB has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Wells Fargo & Company increased their target price on Columbia Banking System from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Finally, Stephens lifted their price target on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Eleven analysts have rated the stock with a hold rating and three have issued 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 $25.81.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $25.95 on Thursday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 11.14 and a beta of 0.64. Columbia Banking System has a one year low of $17.08 and a one year high of $28.11. The firm’s 50 day simple moving average is $24.61 and its two-hundred day simple moving average is $21.55.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LSV Asset Management purchased a new stake in shares of Columbia Banking System in the 1st quarter worth about $2,850,000. BNP Paribas Financial Markets boosted its position in shares of Columbia Banking System by 185.1% in the 1st quarter. BNP Paribas Financial Markets now owns 173,776 shares of the financial services provider’s stock worth $3,363,000 after purchasing an additional 112,826 shares in the last quarter. First Hawaiian Bank grew its stake in shares of Columbia Banking System by 81.4% in the 2nd quarter. First Hawaiian Bank now owns 52,594 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 23,597 shares during the last quarter. Vanguard Group Inc. increased its position in Columbia Banking System by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 22,327,719 shares of the financial services provider’s stock valued at $432,041,000 after buying an additional 574,509 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Columbia Banking System by 7.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,374 shares of the financial services provider’s stock valued at $8,135,000 after buying an additional 29,728 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.55%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is currently 61.80%.

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.