$146.50 Million in Sales Expected for Columbia Banking System Inc (NASDAQ:COLB) This Quarter

Analysts expect Columbia Banking System Inc (NASDAQ:COLB) to report sales of $146.50 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Columbia Banking System’s earnings. The highest sales estimate is $147.00 million and the lowest is $146.00 million. Columbia Banking System reported sales of $144.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.5%. The company is scheduled to issue its next quarterly earnings results on Thursday, January 23rd.

On average, analysts expect that Columbia Banking System will report full year sales of $589.50 million for the current year, with estimates ranging from $589.00 million to $590.00 million. For the next fiscal year, analysts expect that the company will report sales of $592.25 million, with estimates ranging from $590.80 million to $593.70 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, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.09. The firm had revenue of $150.48 million for the quarter, compared to the consensus estimate of $146.70 million. Columbia Banking System had a return on equity of 9.21% and a net margin of 31.02%. During the same period in the prior year, the business posted $0.63 earnings per share.

Several brokerages have recently commented on COLB. Royal Bank of Canada set a $40.00 target price on Columbia Banking System and gave the stock a “hold” rating in a research report on Friday, October 25th. Zacks Investment Research downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a report on Monday, October 28th. ValuEngine raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Stephens reissued a “hold” rating and issued a $38.00 price target on shares of Columbia Banking System in a report on Thursday, October 24th. Finally, BidaskClub raised Columbia Banking System from a “buy” rating to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Columbia Banking System has a consensus rating of “Hold” and an average target price of $39.75.

Shares of NASDAQ:COLB traded up $0.17 during mid-day trading on Thursday, hitting $40.71. 190,200 shares of the company traded hands, compared to its average volume of 308,082. The firm has a market cap of $2.94 billion, a P/E ratio of 16.48 and a beta of 1.08. The firm’s 50 day simple moving average is $37.58 and its 200 day simple moving average is $36.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.83 and a current ratio of 0.83. Columbia Banking System has a 52-week low of $30.65 and a 52-week high of $41.05.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, November 5th. Columbia Banking System’s dividend payout ratio (DPR) is 45.34%.

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In related news, EVP David C. Lawson sold 1,164 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $39.95, for a total value of $46,501.80. Following the sale, the executive vice president now owns 16,544 shares of the company’s stock, valued at approximately $660,932.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.92% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in COLB. Crossmark Global Holdings Inc. bought a new stake in Columbia Banking System during the 2nd quarter valued at $221,000. Naples Global Advisors LLC raised its stake in Columbia Banking System by 10.2% during the 2nd quarter. Naples Global Advisors LLC now owns 24,822 shares of the financial services provider’s stock valued at $898,000 after acquiring an additional 2,300 shares in the last quarter. First National Bank of Omaha raised its stake in Columbia Banking System by 9.9% during the 2nd quarter. First National Bank of Omaha now owns 31,776 shares of the financial services provider’s stock valued at $1,150,000 after acquiring an additional 2,864 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Columbia Banking System by 1.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,700 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 500 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Columbia Banking System by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 28,873 shares of the financial services provider’s stock valued at $1,045,000 after acquiring an additional 500 shares in the last quarter. 89.70% of the stock is currently owned by institutional investors and hedge funds.

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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