Columbia Banking System, Inc. (NASDAQ:COLB) - Research analysts at Piper Sandler upped their Q3 2021 earnings per share estimates for Columbia Banking System in a research report issued to clients and investors on Monday, May 3rd. Piper Sandler analyst M. Clark now anticipates that the financial services provider will post earnings per share of $0.63 for the quarter, up from their previous forecast of $0.58. Piper Sandler currently has a "Neutral" rating and a $47.00 target price on the stock. Piper Sandler also issued estimates for Columbia Banking System's Q4 2021 earnings at $0.62 EPS, FY2021 earnings at $2.62 EPS, Q1 2022 earnings at $0.54 EPS, Q2 2022 earnings at $0.56 EPS, Q3 2022 earnings at $0.56 EPS, Q4 2022 earnings at $0.57 EPS and FY2022 earnings at $2.22 EPS. Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, April 29th. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.62 by $0.11. Columbia Banking System had a return on equity of 6.35% and a net margin of 22.90%. The business had revenue of $147.16 million during the quarter, compared to analysts' expectations of $147.12 million. During the same period in the prior year, the business earned $0.20 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year.
COLB has been the subject of several other reports. Keefe, Bruyette & Woods cut Columbia Banking System from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $39.00 to $43.00 in a report on Friday, January 29th. Zacks Investment Research raised Columbia Banking System from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a research report on Tuesday, April 6th. Finally, Stephens began coverage on Columbia Banking System in a research report on Tuesday, January 5th. They issued an "equal weight" rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of "Hold" and an average price target of $46.33.
Shares of COLB stock opened at $43.89 on Tuesday. Columbia Banking System has a twelve month low of $19.11 and a twelve month high of $50.68. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 22.06 and a beta of 0.97. The stock has a fifty day simple moving average of $44.48 and a two-hundred day simple moving average of $39.04.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 26th. Stockholders of record on Wednesday, May 12th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Tuesday, May 11th. Columbia Banking System's payout ratio is 41.79%.
Large investors have recently made changes to their positions in the stock. Salzhauer Michael acquired a new position in Columbia Banking System during the 4th quarter valued at about $261,000. Anchor Capital Advisors LLC increased its position in Columbia Banking System by 13.0% during the 4th quarter. Anchor Capital Advisors LLC now owns 26,963 shares of the financial services provider's stock valued at $968,000 after buying an additional 3,107 shares in the last quarter. California Public Employees Retirement System increased its position in Columbia Banking System by 2.7% during the 4th quarter. California Public Employees Retirement System now owns 168,318 shares of the financial services provider's stock valued at $6,043,000 after buying an additional 4,348 shares in the last quarter. Rhumbline Advisers increased its position in Columbia Banking System by 11.3% during the 4th quarter. Rhumbline Advisers now owns 251,415 shares of the financial services provider's stock valued at $9,026,000 after buying an additional 25,549 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in Columbia Banking System by 73.5% during the 4th quarter. Hsbc Holdings PLC now owns 28,294 shares of the financial services provider's stock valued at $1,013,000 after buying an additional 11,990 shares in the last quarter. 90.57% of the stock is currently owned by institutional investors.
Columbia Banking System Company Profile
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including non-interest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.
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