Columbia Banking System (COLB) to Release Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB - Get Free Report) is expected to post its quarterly 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. Investors that are interested in registering for the company's conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to analysts' expectations of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the previous year, the business earned $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 Trading Down 1.0 %

COLB stock traded down $0.29 during trading on Thursday, hitting $28.14. The company had a trading volume of 1,169,809 shares, compared to its average volume of 1,337,238. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 12.18 and a beta of 0.67. The business has a 50 day moving average of $29.13 and a 200 day moving average of $26.31. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System's dividend payout ratio is currently 62.34%.

Wall Street Analysts Forecast Growth

COLB has been the topic of several recent analyst reports. UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price on the stock. Truist Financial boosted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Royal Bank of Canada increased their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Wedbush increased their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Columbia Banking System has a consensus rating of "Hold" and a consensus price target 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.