DA Davidson Brokers Boost Earnings Estimates for Columbia Banking System Inc (COLB)

Columbia Banking System Inc (NASDAQ:COLB) – Equities researchers at DA Davidson boosted their Q3 2017 earnings per share (EPS) estimates for Columbia Banking System in a report issued on Tuesday. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.48. DA Davidson currently has a “Buy” rating and a $48.00 price target on the stock. DA Davidson also issued estimates for Columbia Banking System’s Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $2.02 EPS and FY2019 earnings at $2.50 EPS.

Several other brokerages have also issued reports on COLB. Zacks Investment Research lowered Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $46.00 in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $42.00 target price on shares of Columbia Banking System in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Columbia Banking System presently has an average rating of “Hold” and an average target price of $45.00.

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Columbia Banking System (NASDAQ COLB) opened at 42.48 on Friday. The company has a 50-day moving average of $40.12 and a 200-day moving average of $39.15. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 21.57 and a beta of 1.26. Columbia Banking System has a one year low of $31.75 and a one year high of $45.68.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $110.30 million during the quarter, compared to the consensus estimate of $112.27 million. Columbia Banking System had a net margin of 24.60% and a return on equity of 8.35%. During the same quarter last year, the business earned $0.44 EPS.

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Columbia Banking System by 0.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 46 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Columbia Banking System by 2.1% during the second quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares during the period. Amalgamated Bank boosted its stake in shares of Columbia Banking System by 1.1% during the second quarter. Amalgamated Bank now owns 7,945 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 84 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Columbia Banking System by 0.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Columbia Banking System by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 100 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, October 30th. Columbia Banking System’s dividend payout ratio (DPR) is presently 44.67%.

About Columbia Banking System

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.

Earnings History and Estimates for Columbia Banking System (NASDAQ:COLB)

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