Columbia Banking System (COLB) Set to Announce Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) will be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.35). Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The firm had revenue of $519.16 million for the quarter, compared to analysts’ expectations of $525.94 million. During the same period last year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 52.5% on a year-over-year basis. 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 $19.08 on Wednesday. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.11. The business has a 50-day moving average of $18.49 and a 200-day moving average of $21.18. The company has a market capitalization of $3.99 billion, a PE ratio of 11.56 and a beta of 0.71.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 23rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s payout ratio is 87.27%.

Analyst Upgrades and Downgrades

COLB has been the topic of a number of recent analyst reports. TheStreet downgraded Columbia Banking System from a “b-” rating to a “c+” rating in a research note on Thursday, February 22nd. Truist Financial lowered their target price on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Raymond James lowered Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 target price on the stock. in a report on Thursday, January 25th. 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 report on Tuesday, April 9th. Finally, Piper Sandler lowered their target price on Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Columbia Banking System currently has a consensus rating of “Hold” and a consensus target price of $22.42.

Insider Activity at Columbia Banking System

In other Columbia Banking System news, insider Aaron James Deer acquired 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was purchased at an average price of $19.32 per share, for a total transaction of $38,640.00. Following the transaction, the insider now owns 36,850 shares in the company, valued at approximately $711,942. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Columbia Banking System news, insider Aaron James Deer acquired 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was purchased at an average price of $19.32 per share, for a total transaction of $38,640.00. Following the transaction, the insider now owns 36,850 shares in the company, valued at approximately $711,942. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth Whitehead Seaton acquired 2,685 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $18.48 per share, with a total value of $49,618.80. Following the transaction, the director now owns 25,001 shares in the company, valued at approximately $462,018.48. The disclosure for this purchase can be found here. Insiders have purchased a total of 35,133 shares of company stock valued at $719,737 in the last 90 days. 0.59% of the stock is owned by corporate insiders.

About Columbia Banking System

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.