Wall Street analysts expect Columbia Banking System Inc (NASDAQ:COLB) to post sales of $147.85 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Columbia Banking System’s earnings, with the lowest sales estimate coming in at $147.40 million and the highest estimate coming in at $148.20 million. Columbia Banking System reported sales of $138.62 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The firm is scheduled to issue its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Columbia Banking System will report full-year sales of $599.88 million for the current year, with estimates ranging from $594.33 million to $605.80 million. For the next year, analysts forecast that the business will post sales of $626.99 million, with estimates ranging from $619.88 million to $634.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.06). Columbia Banking System had a return on equity of 9.01% and a net margin of 29.54%. The company had revenue of $144.29 million during the quarter, compared to analyst estimates of $148.88 million. During the same period in the prior year, the firm earned $0.54 EPS. Columbia Banking System’s quarterly revenue was up 11.2% on a year-over-year basis.

COLB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. DA Davidson lowered Columbia Banking System from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $38.00 in a research note on Monday, March 18th. Stephens initiated coverage on Columbia Banking System in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Finally, ValuEngine lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Columbia Banking System has an average rating of “Hold” and a consensus target price of $42.33.

In other news, COO Clint Stein sold 657 shares of Columbia Banking System stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $38.32, for a total value of $25,176.24. Following the transaction, the chief operating officer now directly owns 24,644 shares in the company, valued at $944,358.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of COLB. Oregon Public Employees Retirement Fund bought a new position in Columbia Banking System during the fourth quarter valued at about $28,000. Norges Bank bought a new position in Columbia Banking System during the fourth quarter valued at about $22,754,000. Bank of New York Mellon Corp increased its stake in Columbia Banking System by 40.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,452,449 shares of the financial services provider’s stock valued at $52,709,000 after acquiring an additional 416,601 shares during the period. Bank of America Corp DE increased its stake in Columbia Banking System by 123.2% during the fourth quarter. Bank of America Corp DE now owns 442,372 shares of the financial services provider’s stock valued at $16,054,000 after acquiring an additional 244,220 shares during the period. Finally, Vanguard Group Inc. increased its stake in Columbia Banking System by 2.0% during the third quarter. Vanguard Group Inc. now owns 7,522,600 shares of the financial services provider’s stock valued at $291,650,000 after acquiring an additional 148,645 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

Shares of NASDAQ:COLB opened at $34.57 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.94 and a beta of 0.98. Columbia Banking System has a fifty-two week low of $30.65 and a fifty-two week high of $45.22.

About Columbia Banking System

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 Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Earnings History and Estimates for Columbia Banking System (NASDAQ:COLB)

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