Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) – Investment analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for Columbia Banking System in a report issued on Wednesday, October 9th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $2.51 per share for the year, up from their prior forecast of $2.50. Wedbush has a “Outperform” rating and a $31.00 price target on the stock. The consensus estimate for Columbia Banking System’s current full-year earnings is $2.55 per share. Wedbush also issued estimates for Columbia Banking System’s Q4 2024 earnings at $0.63 EPS and Q4 2025 earnings at $0.66 EPS.
COLB has been the topic of several other research reports. Truist Financial lowered their price objective on Columbia Banking System from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Wells Fargo & Company increased their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays raised their target price on Columbia Banking System from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Finally, Stephens raised their target price on Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.81.
Columbia Banking System Trading Up 3.7 %
Columbia Banking System stock opened at $26.90 on Thursday. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The stock’s 50 day simple moving average is $24.67 and its two-hundred day simple moving average is $21.61. The firm has a market cap of $5.64 billion, a PE ratio of 11.90 and a beta of 0.64.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Columbia Banking System’s revenue for the quarter was down 9.8% on a year-over-year basis.
Columbia Banking System Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.35%. The ex-dividend date was Friday, August 23rd. Columbia Banking System’s dividend payout ratio (DPR) is 63.72%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama boosted its stake in shares of Columbia Banking System by 0.3% in the first quarter. Retirement Systems of Alabama now owns 261,930 shares of the financial services provider’s stock valued at $5,068,000 after buying an additional 700 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,020 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Columbia Banking System by 1.9% in the second quarter. Arizona State Retirement System now owns 58,406 shares of the financial services provider’s stock valued at $1,162,000 after buying an additional 1,085 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Columbia Banking System by 26.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,209 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,091 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Columbia Banking System by 2.4% in the first quarter. State of Michigan Retirement System now owns 51,241 shares of the financial services provider’s stock valued at $992,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.
About Columbia Banking System
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.
Further Reading
- Five stocks we like better than Columbia Banking System
- How to Calculate Retirement Income: MarketBeat’s Calculator
- 3 Micro-Caps Set for Major Moves: Balancing Risk and Opportunity
- How to Effectively Use the MarketBeat Ratings Screener
- Autodesk Named a “Top Pick” by Morgan Stanley—Is It Time to Buy?
- Trading Halts Explained
- 4 Quirky ETFs With Big Potential for Impressive Gains
Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.