Columbia Banking System Inc (NASDAQ:COLB) – Equities research analysts at Piper Jaffray Companies lowered their Q1 2020 earnings per share estimates for Columbia Banking System in a report released on Sunday, April 28th, Zacks Investment Research reports. Piper Jaffray Companies analyst M. Clark now anticipates that the financial services provider will post earnings per share of $0.65 for the quarter, down from their prior estimate of $0.66.
Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $142.72 million for the quarter, compared to analysts’ expectations of $147.05 million. Columbia Banking System had a return on equity of 9.01% and a net margin of 30.12%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share.
A number of other research firms have also recently commented on COLB. BidaskClub cut Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. ValuEngine raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. DA Davidson cut Columbia Banking System from a “buy” rating to a “neutral” rating and cut their target price for the company from $42.00 to $38.00 in a research note on Monday, March 18th. Finally, Stephens started coverage on Columbia Banking System in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $39.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Columbia Banking System presently has a consensus rating of “Buy” and a consensus target price of $42.33.
Shares of COLB traded up $0.42 during mid-day trading on Tuesday, reaching $35.28. 189,953 shares of the company’s stock traded hands, compared to its average volume of 363,910. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 2.01 and a beta of 1.03. Columbia Banking System has a 12 month low of $30.65 and a 12 month high of $44.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were paid a $0.28 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.12 annualized dividend and a yield of 3.17%. Columbia Banking System’s dividend payout ratio (DPR) is currently 45.34%.
A number of large investors have recently made changes to their positions in the stock. Advisor Group Inc. grew its stake in Columbia Banking System by 9.2% in the fourth quarter. Advisor Group Inc. now owns 3,645 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 307 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Columbia Banking System by 48.7% during the first quarter. Toronto Dominion Bank now owns 1,005 shares of the financial services provider’s stock worth $33,000 after buying an additional 329 shares during the period. State of Alaska Department of Revenue lifted its holdings in Columbia Banking System by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 24,482 shares of the financial services provider’s stock worth $888,000 after buying an additional 355 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Columbia Banking System by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,373 shares of the financial services provider’s stock worth $928,000 after buying an additional 513 shares during the period. Finally, Piedmont Investment Advisors Inc. lifted its holdings in Columbia Banking System by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 17,431 shares of the financial services provider’s stock worth $633,000 after buying an additional 551 shares during the period. 89.51% of the stock is currently owned by institutional investors.
About Columbia Banking System
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 noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.