Columbia Banking System (COLB) to Release Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) is set to post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Columbia Banking System to post earnings of $0.61 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, analysts expect Columbia Banking System to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $26.63 on Tuesday. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.15. The company has a 50 day moving average price of $25.10 and a 200 day moving average price of $21.95. The stock has a market capitalization of $5.58 billion, a P/E ratio of 11.43 and a beta of 0.64.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s payout ratio is presently 61.80%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COLB. Royal Bank of Canada lifted their price target on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lowered their target price 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, October 9th. Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Barclays upped their price objective on Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.81.

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.