Columbia Banking System (COLB) to Release Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) is anticipated to announce its earnings results after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.65 per share and revenue of $489,877.05 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter in the prior year, the company 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 $28.58 on Tuesday. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $32.85. The stock has a market cap of $5.99 billion, a P/E ratio of 12.37 and a beta of 0.67. The stock has a 50-day simple moving average of $28.99 and a 200-day simple moving average of $26.55.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is 62.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COLB. JPMorgan Chase & Co. reduced 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. Raymond James boosted their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group started coverage on Columbia Banking System in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective on the stock. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $33.00 to $35.00 in a report on Monday, January 6th. Finally, Barclays raised their price target on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.