Analysts forecast that Columbia Banking System Inc (NASDAQ:COLB) will announce sales of $146.99 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Columbia Banking System’s earnings, with the highest sales estimate coming in at $148.10 million and the lowest estimate coming in at $145.90 million. Columbia Banking System posted sales of $143.82 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is expected to announce its next quarterly earnings results on Thursday, October 24th.
On average, analysts expect that Columbia Banking System will report full-year sales of $587.81 million for the current financial year, with estimates ranging from $584.23 million to $593.10 million. For the next year, analysts anticipate that the firm will report sales of $604.89 million, with estimates ranging from $600.70 million to $608.80 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. The business had revenue of $150.76 million for the quarter, compared to analyst estimates of $147.22 million. During the same quarter in the prior year, the company posted $0.57 EPS.
NASDAQ COLB traded down $0.06 during trading hours on Thursday, hitting $33.68. 173,000 shares of the company were exchanged, compared to its average volume of 316,890. Columbia Banking System has a 52-week low of $30.65 and a 52-week high of $43.60. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.93 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $35.86 and a two-hundred day moving average of $35.66.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, August 6th. Columbia Banking System’s dividend payout ratio (DPR) is presently 45.34%.
In other news, EVP Andy Mcdonald sold 3,481 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total transaction of $122,043.86. Following the completion of the transaction, the executive vice president now directly owns 36,264 shares in the company, valued at $1,271,415.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of COLB. Advisors Preferred LLC acquired a new position in shares of Columbia Banking System during the second quarter worth approximately $26,000. Quantamental Technologies LLC acquired a new stake in Columbia Banking System in the first quarter worth approximately $32,000. Toronto Dominion Bank lifted its position in Columbia Banking System by 48.7% in the first quarter. Toronto Dominion Bank now owns 1,005 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 329 shares during the period. Versant Capital Management Inc lifted its position in Columbia Banking System by 51.4% in the first quarter. Versant Capital Management Inc now owns 1,684 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 572 shares during the period. Finally, TRUE Private Wealth Advisors acquired a new stake in Columbia Banking System in the second quarter worth approximately $86,000. Institutional investors and hedge funds own 90.98% of the company’s stock.
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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