$143.78 Million in Sales Expected for Columbia Banking System Inc (COLB) This Quarter

Equities research analysts predict that Columbia Banking System Inc (NASDAQ:COLB) will report sales of $143.78 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Columbia Banking System’s earnings. The highest sales estimate is $146.00 million and the lowest is $142.43 million. Columbia Banking System reported sales of $126.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The firm is scheduled to announce its next earnings report on Thursday, October 25th.

According to Zacks, analysts expect that Columbia Banking System will report full-year sales of $571.18 million for the current year, with estimates ranging from $565.84 million to $578.20 million. For the next year, analysts anticipate that the business will report sales of $610.61 million per share, with estimates ranging from $601.92 million to $624.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). Columbia Banking System had a return on equity of 9.13% and a net margin of 25.30%. The business had revenue of $140.37 million for the quarter, compared to analyst estimates of $143.03 million. During the same period in the prior year, the business earned $0.47 EPS.

Several equities research analysts recently commented on the company. BidaskClub raised Columbia Banking System from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. DA Davidson decreased their target price on Columbia Banking System from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, April 27th. Finally, Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $48.20.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLB. Advisors Preferred LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $139,000. SG Americas Securities LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $199,000. Klingenstein Fields & Co. LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $203,000. Zeke Capital Advisors LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $216,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Columbia Banking System in the first quarter valued at approximately $236,000. 88.59% of the stock is owned by institutional investors and hedge funds.

Columbia Banking System traded up $0.09, hitting $41.97, during trading hours on Friday, according to Marketbeat. 152,371 shares of the company’s stock were exchanged, compared to its average volume of 271,223. Columbia Banking System has a 1-year low of $35.67 and a 1-year high of $48.06. The stock has a market capitalization of $3.07 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.83 and a quick ratio of 0.83.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Wednesday, August 8th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 7th. This represents a $1.04 annualized dividend and a yield of 2.48%. Columbia Banking System’s dividend payout ratio is currently 47.49%.

Columbia Banking System Company Profile

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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