Columbia Banking System Inc (COLB) Expected to Announce Quarterly Sales of $142.70 Million
Wall Street brokerages expect Columbia Banking System Inc (NASDAQ:COLB) to announce $142.70 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Columbia Banking System’s earnings, with the lowest sales estimate coming in at $142.40 million and the highest estimate coming in at $142.99 million. Columbia Banking System reported sales of $111.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.9%. The firm is expected to issue its next earnings report on Thursday, April 26th.
On average, analysts expect that Columbia Banking System will report full-year sales of $142.70 million for the current financial year, with estimates ranging from $575.50 million to $576.56 million. For the next financial year, analysts forecast that the company will post sales of $603.39 million per share, with estimates ranging from $599.80 million to $606.97 million. Zacks’ sales averages are an average based on a survey of research firms that cover Columbia Banking System.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). The business had revenue of $135.40 million for the quarter, compared to the consensus estimate of $135.15 million. Columbia Banking System had a net margin of 23.29% and a return on equity of 9.14%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS.
Shares of Columbia Banking System (NASDAQ:COLB) traded up $0.54 on Wednesday, hitting $42.80. The stock had a trading volume of 327,121 shares, compared to its average volume of 281,943. The company has a market cap of $3,085.82, a P/E ratio of 22.53, a PEG ratio of 1.51 and a beta of 1.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.02. Columbia Banking System has a 12-month low of $35.67 and a 12-month high of $48.06.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.88 dividend on an annualized basis and a yield of 2.06%. Columbia Banking System’s payout ratio is 46.32%.
In related news, CAO Barry Ray sold 750 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.87, for a total value of $35,152.50. Following the completion of the sale, the chief accounting officer now owns 11,250 shares in the company, valued at approximately $527,287.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.23% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Flinton Capital Management LLC increased its stake in Columbia Banking System by 98.1% in the 2nd quarter. Flinton Capital Management LLC now owns 3,328 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Columbia Banking System by 79.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,343 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,476 shares during the period. Meeder Asset Management Inc. purchased a new position in Columbia Banking System in the 4th quarter worth approximately $178,000. Dorsey & Whitney Trust CO LLC purchased a new position in Columbia Banking System in the 4th quarter worth approximately $205,000. Finally, Teacher Retirement System of Texas purchased a new position in Columbia Banking System in the 3rd quarter worth approximately $202,000. 76.73% of the stock is currently owned by institutional investors and hedge funds.
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Columbia Banking System Company Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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