Columbia Banking System (COLB) Projected to Post Quarterly Earnings on Thursday

Columbia Banking System (NASDAQ:COLB) is expected to announce its earnings results after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.65 per share and revenue of $489,877.05 billion for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The company had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. During the same period last year, the firm posted $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 Up 0.9 %

NASDAQ:COLB opened at $28.84 on Wednesday. The stock has a 50-day moving average price of $28.94 and a two-hundred day moving average price of $26.61. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $32.85. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 12.48 and a beta of 0.67.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.99%. Columbia Banking System’s dividend payout ratio is currently 62.34%.

Wall Street Analyst Weigh In

COLB has been the topic of a number of recent analyst reports. UBS Group started coverage on shares of Columbia Banking System in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 target price on the stock. Raymond James increased their price target on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $35.00 in a research note on Monday, January 6th. Barclays upped their price target on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. cut their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.31.

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.