Somewhat Favorable News Coverage Somewhat Unlikely to Impact Columbia Banking System (COLB) Share Price
Media stories about Columbia Banking System (NASDAQ:COLB) have been trending somewhat positive on Tuesday, Accern Sentiment Analysis reports. Accern scores the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Columbia Banking System earned a news sentiment score of 0.06 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 45.4875393735158 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Shares of Columbia Banking System (NASDAQ:COLB) traded up $0.03 during trading on Tuesday, hitting $44.59. 247,864 shares of the stock were exchanged, compared to its average volume of 360,068. The firm has a market cap of $3,285.84, a price-to-earnings ratio of 20.45, a PEG ratio of 2.05 and a beta of 1.24. Columbia Banking System has a 1-year low of $35.67 and a 1-year high of $48.06.
Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $126.00 million for the quarter, compared to analyst estimates of $119.16 million. Columbia Banking System had a net margin of 27.72% and a return on equity of 9.93%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. analysts forecast that Columbia Banking System will post 2.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.97%. Columbia Banking System’s dividend payout ratio (DPR) is presently 40.00%.
COLB has been the topic of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Columbia Banking System in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Columbia Banking System from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $42.00 price objective on shares of Columbia Banking System in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $45.60.
In other news, CAO Barry Ray sold 750 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $46.87, for a total value of $35,152.50. Following the sale, 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 SEC, which is accessible through the SEC website. Corporate insiders own 1.23% of the company’s stock.
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Columbia Banking System Company Profile
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.
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