Columbia Banking System (COLB) Projected to Post Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) is projected to announce its earnings results after the market closes on Thursday, January 23rd. Analysts expect Columbia Banking System to post earnings of $0.65 per share and revenue of $489,877.05 billion for the quarter.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million during the quarter, compared to analysts’ expectations of $478.80 million. During the same quarter in the previous year, the business posted $0.79 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

NASDAQ:COLB opened at $28.43 on Thursday. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $32.85. The firm’s 50-day simple moving average is $29.20 and its 200 day simple moving average is $26.30. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 12.31 and a beta of 0.64.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.07%. Columbia Banking System’s payout ratio is presently 62.34%.

Wall Street Analysts Forecast Growth

COLB has been the subject of several recent research reports. Barclays boosted their price target on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. UBS Group assumed coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price for the company. Wells Fargo & Company upgraded Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.31.

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.