Research Analysts Set Expectations for Columbia Banking System, Inc.’s Third Quarter 2022 Earnings (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB – Get a rating) – Research analysts DA Davidson released their third-quarter 2022 EPS estimates for Columbia Banking System in a report released Friday, July 22. DA Davidson analyst J. Rulis expects the financial services provider to post earnings of $0.37 per share for the quarter. Columbia Banking System’s current annual earnings consensus estimate is $2.73 per share.

Other stock analysts have also recently released research reports on the stock. Royal Bank of Canada raised its price target on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock an “sector performance” rating in a Friday research note April 22. Piper Sandler cut her target price on Columbia Banking System stock from $35.00 to $31.00 in a Monday, May 2 research note. Raymond James cut his price target on Columbia Banking System shares from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 research note. To finish, StockNews.com purported coverage of Columbia Banking System stock in a Thursday, March 31, research note. They issued a “hold” rating for the company. Four research analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.80.

Columbia Banking System Stock Performance

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Shares of COLB opened at $29.33 on Monday. The company has a market capitalization of $2.31 billion, a price-earnings ratio of 10.55 and a beta of 0.67. Columbia Banking System has a 52-week low of $26.97 and a 52-week high of $40.78. The company’s 50-day simple moving average is $29.13 and its two-hundred-day simple moving average is $31.93.

Colombia Banking System (NASDAQ:COLB – Get a rating) last reported quarterly earnings data on Thursday, July 21. The financial services provider reported EPS of $0.75 for the quarter, missing the consensus estimate of $0.77 per ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. In the same quarter a year earlier, the company posted earnings of $0.77 per share.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Investors of record on Wednesday August 3 will receive a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 2. This represents an annualized dividend of $1.20 and a yield of 4.09%. Columbia Banking System’s dividend payout ratio is currently 43.17%.

Insider Activity at Columbia Banking System

In related news, CFO Aaron James Cerf bought 3,000 shares of the company in a trade on Monday, May 2. The shares were acquired at an average price of $28.00 per share, with a total value of $84,000.00. Following the purchase, the CFO now directly owns 15,427 shares of the company, valued at $431,956. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Separately, director Craig D. Eerkes bought 1,694 shares of the company in a trade on Friday, June 10. The shares were acquired at an average price of $28.52 per share, with a total value of $48,312.88. Following the purchase, the director now directly owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Also, CFO Aaron James Cerf bought 3,000 shares of the company in a trade on Monday, May 2. The shares were purchased at an average cost of $28.00 per share, with a total value of $84,000.00. Following the purchase, the CFO now owns 15,427 shares of the company, valued at $431,956. Disclosure of this purchase can be found here. Over the past 90 days, insiders have purchased 5,713 shares of the company valued at $158,593. Company insiders own 0.62% of the company’s shares.

Hedge funds weigh on Columbia’s banking system

A number of hedge funds and other institutional investors have recently bought and sold shares of COLB. Earnest Partners LLC purchased a new stake in shares of Columbia Banking System in Q4 for a value of approximately $27,000. Covestor Ltd purchased a new stake in shares of Columbia Banking System in Q4 for a value of approximately $28,000. Meeder Asset Management Inc. purchased a new equity stake in Columbia Banking System in Q1 worth approximately $41,000. Pinebridge Investments LP purchased a new stake in shares of Columbia Banking System in Q4 for a value of approximately $69,000. Finally, Howe & Rusling Inc. acquired a new stake in Columbia Banking System during Q1 for $88,000. Hedge funds and other institutional investors hold 94.44% of the company’s shares.

Columbia Banking System Company Profile

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Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

Further reading

Earnings history and estimates for Columbia Banking System (NASDAQ:COLB)

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