Columbia Banking System (NASDAQ:COLB - Get Free Report) posted its earnings results on Thursday. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07, RTT News reports. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. During the same quarter in the prior year, the company earned $0.79 EPS.
Columbia Banking System Stock Up 4.4 %
NASDAQ:COLB traded up $1.19 during mid-day trading on Thursday, hitting $28.27. 3,264,769 shares of the stock traded hands, compared to its average volume of 2,309,470. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 12.13 and a beta of 0.64. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $28.28. The firm's 50 day moving average is $25.32 and its two-hundred day moving average is $22.11.
Columbia Banking System Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.36 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.09%. Columbia Banking System's dividend payout ratio (DPR) is presently 61.80%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on COLB shares. 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 note on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. StockNews.com upgraded shares of Columbia Banking System from a "sell" rating to a "hold" rating in a report on Saturday, October 5th. Raymond James raised their price objective on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Finally, Truist Financial decreased their target price 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. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $25.81.
Read Our Latest Analysis on COLB
About Columbia Banking System
(
Get Free Report)
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.
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