Columbia Banking System (COLB) to Release Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) is expected to be announcing its earnings results after the market closes on Thursday, July 24th. Analysts expect the company to announce earnings of $0.66 per share and revenue of $492.00 million for the quarter.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. Columbia Banking System had a return on equity of 11.12% and a net margin of 16.85%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. 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 NASDAQ COLB opened at $24.38 on Wednesday. The stock has a market cap of $5.12 billion, a PE ratio of 10.33 and a beta of 0.62. Columbia Banking System has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The stock has a fifty day moving average of $23.90 and a 200-day moving average of $24.80.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System’s payout ratio is 61.02%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its position in shares of Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after buying an additional 794 shares in the last quarter. Focus Partners Wealth raised its position in shares of Columbia Banking System by 55.8% during the 1st quarter. Focus Partners Wealth now owns 12,621 shares of the financial services provider’s stock worth $315,000 after buying an additional 4,520 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Columbia Banking System by 35.4% during the 1st quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 14,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Columbia Banking System by 23.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after buying an additional 15,845 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Columbia Banking System by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider’s stock worth $22,128,000 after buying an additional 16,165 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on COLB. JPMorgan Chase & Co. lowered their price target on Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, July 1st. Royal Bank Of Canada reduced their target price on Columbia Banking System from $32.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Raymond James Financial set a $27.00 price objective on Columbia Banking System and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Wall Street Zen began coverage on Columbia Banking System in a research report on Thursday, May 22nd. They set a “hold” rating on the stock. Finally, DA Davidson raised their target price on Columbia Banking System from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $28.79.

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.