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

Columbia Banking System (NASDAQ:COLB) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The business had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. 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

Columbia Banking System stock opened at $27.69 on Thursday. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.15. The company has a market capitalization of $5.80 billion, a PE ratio of 11.88 and a beta of 0.64. The company has a 50 day moving average price of $24.93 and a 200-day moving average price of $21.80.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Friday, August 23rd. Columbia Banking System’s dividend payout ratio is 61.80%.

Analyst Upgrades and Downgrades

COLB has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on shares of Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Truist Financial reduced their price objective on shares of Columbia Banking System from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Stephens increased their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Columbia Banking System currently has an average rating of “Hold” and a consensus target price of $25.81.

Columbia Banking System Company Profile

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.