Columbia Banking System (COLB) Set to Announce Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB - Get Free Report) will be issuing 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. Investors that are interested in participating in the company's conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company had revenue of $472.15 million for the quarter, compared to analysts' expectations of $476.01 million. During the same period in the prior year, the firm earned $0.81 earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. 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 Up 0.3 %

Columbia Banking System stock traded up $0.07 during mid-day trading on Thursday, hitting $27.76. The company had a trading volume of 1,674,618 shares, compared to its average volume of 2,317,245. The stock's 50 day moving average price is $25.01 and its two-hundred day moving average price is $21.85. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.15. The company has a market capitalization of $5.81 billion, a PE ratio of 11.91 and a beta of 0.64.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Friday, August 23rd. Columbia Banking System's payout ratio is currently 61.80%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COLB. Raymond James raised their price objective on Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Barclays lifted their target price on Columbia Banking System from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, September 27th. StockNews.com raised Columbia Banking System from a "sell" rating to a "hold" rating in a research report on Saturday, October 5th. Truist Financial dropped their price target on Columbia Banking System from $29.00 to $28.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on 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. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $25.81.

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.