Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) - Equities researchers at Wedbush dropped their Q3 2024 EPS estimates for shares of Columbia Banking System in a note issued to investors on Friday, April 26th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $0.58 per share for the quarter, down from their prior forecast of $0.60. Wedbush currently has a "Neutral" rating and a $20.00 target price on the stock. The consensus estimate for Columbia Banking System's current full-year earnings is $2.25 per share. Wedbush also issued estimates for Columbia Banking System's FY2025 earnings at $2.65 EPS.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.12. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The business had revenue of $473.72 million during the quarter, compared to the consensus estimate of $480.39 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis.
COLB has been the subject of several other research reports. Keefe, Bruyette & Woods lowered their price target on Columbia Banking System from $25.00 to $23.00 and set a "market perform" rating for the company in a research report on Friday, April 5th. Truist Financial reduced their price target on shares of Columbia Banking System from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Monday, April 1st. TheStreet downgraded Columbia Banking System from a "b-" rating to a "c+" rating in a research note on Thursday, February 22nd. Stephens cut Columbia Banking System from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $31.00 to $24.00 in a research note on Thursday, January 25th. Finally, Piper Sandler dropped their price objective on Columbia Banking System from $36.00 to $29.00 and set an "overweight" rating on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $22.19.
Read Our Latest Analysis on Columbia Banking System
Columbia Banking System Trading Down 0.8 %
NASDAQ:COLB traded down $0.15 during trading hours on Monday, reaching $18.97. 4,150,339 shares of the company traded hands, compared to its average volume of 2,891,833. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $28.11. The stock has a market capitalization of $3.97 billion, a P/E ratio of 8.14 and a beta of 0.71. The business's 50-day moving average price is $18.52 and its two-hundred day moving average price is $21.15.
Columbia Banking System Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 7.59%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System's dividend payout ratio is presently 61.80%.
Insider Activity
In related news, insider Aaron James Deer bought 2,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $19.32 per share, with a total value of $38,640.00. Following the acquisition, the insider now owns 36,850 shares in the company, valued at $711,942. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Aaron James Deer acquired 2,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $19.32 per share, for a total transaction of $38,640.00. Following the purchase, the insider now owns 36,850 shares in the company, valued at approximately $711,942. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Luis Machuca bought 4,889 shares of the firm's stock in a transaction on Wednesday, January 31st. The shares were purchased at an average price of $20.58 per share, for a total transaction of $100,615.62. Following the purchase, the director now owns 60,835 shares in the company, valued at approximately $1,251,984.30. The disclosure for this purchase can be found here. Insiders acquired a total of 24,074 shares of company stock valued at $493,444 in the last 90 days. Company insiders own 0.59% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of COLB. Wellington Management Group LLP purchased a new position in shares of Columbia Banking System in the third quarter valued at about $80,011,000. Norges Bank bought a new stake in Columbia Banking System during the 4th quarter valued at approximately $63,152,000. Kennedy Capital Management LLC lifted its holdings in Columbia Banking System by 1,633.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider's stock worth $25,936,000 after purchasing an additional 1,203,933 shares in the last quarter. American Century Companies Inc. boosted its stake in Columbia Banking System by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider's stock worth $79,980,000 after purchasing an additional 967,009 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in Columbia Banking System by 3,245.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider's stock valued at $23,068,000 after buying an additional 838,762 shares in the last quarter. Institutional investors own 92.53% of the company's stock.
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.
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