Brokers Offer Predictions for Columbia Banking System, Inc.’s Q3 2024 Earnings (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB) – Stock analysts at DA Davidson issued their Q3 2024 earnings per share estimates for shares of Columbia Banking System in a research report issued to clients and investors on Monday, July 29th. DA Davidson analyst J. Rulis anticipates that the financial services provider will earn $0.61 per share for the quarter. The consensus estimate for Columbia Banking System’s current full-year earnings is $2.48 per share.

Several other equities research analysts have also issued reports on COLB. Piper Sandler reiterated an “overweight” rating and issued a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Barclays lifted their price objective on shares of Columbia Banking System from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their target price on shares of Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Wedbush lifted their price target on shares of Columbia Banking System from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.04.

Columbia Banking System Trading Down 0.4 %

COLB opened at $26.16 on Tuesday. The stock has a 50-day moving average of $20.38 and a 200 day moving average of $19.81. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The firm has a market cap of $5.48 billion, a P/E ratio of 11.23 and a beta of 0.66.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The business had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. During the same quarter last year, the business earned $0.81 earnings per share. Columbia Banking System’s quarterly revenue was down 9.8% compared to the same quarter last year.

Institutional Trading of Columbia Banking System

Several institutional investors and hedge funds have recently made changes to their positions in COLB. Quadrant Capital Group LLC increased its position in Columbia Banking System by 17.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 595 shares during the period. Retirement Systems of Alabama increased its holdings in Columbia Banking System by 0.3% during the first quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock valued at $5,068,000 after buying an additional 700 shares during the period. Essex Financial Services Inc. raised its stake in Columbia Banking System by 3.8% in the first quarter. Essex Financial Services Inc. now owns 19,580 shares of the financial services provider’s stock worth $379,000 after buying an additional 725 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Columbia Banking System by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 92,202 shares of the financial services provider’s stock worth $2,460,000 after buying an additional 900 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its position in Columbia Banking System by 85.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,020 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.44 annualized dividend and a yield of 5.50%. Columbia Banking System’s payout ratio is currently 61.80%.

Columbia Banking System Company Profile

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.