Free Trial

Columbia Banking System (NASDAQ:COLB) Trading 5.1% Higher Following Strong Earnings

Columbia Banking System logo with Finance background

Key Points

  • Columbia Banking System's share price rose by 5.1% following the announcement of better-than-expected quarterly earnings, reporting an EPS of $0.76 compared to the estimated $0.66.
  • The company had a quarterly revenue of $511.55 million, surpassing analyst expectations of $492.00 million, and reported a net margin of 16.85%.
  • Columbia Banking System declared a quarterly dividend of $0.36 per share, yielding 5.90% with a payout ratio of 61.02%.
  • Multiple analysts have adjusted their target prices for the stock, with most rating it as a hold, reflecting ongoing cautious sentiment in the market.
  • MarketBeat previews top five stocks to own in August.
  • Limited Time Offer: Unlock powerful research tools, advanced financial data, and expert insights to help you invest with confidence. Save 50% when you upgrade to MarketBeat All Access during the month of July. Claim your discount here.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report)'s share price traded up 5.1% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $24.33 and last traded at $24.55. 1,823,792 shares were traded during trading, a decline of 4% from the average session volume of 1,898,391 shares. The stock had previously closed at $23.35.

The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.66 by $0.10. The firm had revenue of $511.55 million for the quarter, compared to analyst estimates of $492.00 million. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend was Friday, May 30th. Columbia Banking System's payout ratio is presently 61.02%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen started coverage on shares of Columbia Banking System in a report on Thursday, May 22nd. They issued a "hold" rating for the company. Piper Sandler dropped their target price on shares of Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Jefferies Financial Group started coverage on shares of Columbia Banking System in a report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 target price for the company. Finally, Raymond James Financial set a $27.00 target price on shares of Columbia Banking System and gave the company an "outperform" rating in a report on Thursday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $28.79.

Check Out Our Latest Report on COLB

Hedge Funds Weigh In On Columbia Banking System

A number of institutional investors and hedge funds have recently modified their holdings of COLB. Aster Capital Management DIFC Ltd purchased a new stake in Columbia Banking System in the fourth quarter valued at $29,000. Geneos Wealth Management Inc. lifted its position in Columbia Banking System by 194.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 794 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Columbia Banking System in the first quarter valued at $37,000. UMB Bank n.a. raised its holdings in shares of Columbia Banking System by 141.3% in the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock valued at $41,000 after buying an additional 958 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Stock Up 4.6%

The business's fifty day moving average price is $23.85 and its 200 day moving average price is $24.77. The firm has a market capitalization of $5.13 billion, a PE ratio of 10.36 and a beta of 0.62.

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.

Featured Articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Columbia Banking System Right Now?

Before you consider Columbia Banking System, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Columbia Banking System wasn't on the list.

While Columbia Banking System currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2025 Cover

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines