Equities Analysts Offer Predictions for Columbia Banking System, Inc.’s Q2 2024 Earnings (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Columbia Banking System in a research note issued to investors on Friday, April 26th. DA Davidson analyst J. Rulis forecasts that the financial services provider will post earnings per share of $0.58 for the quarter. DA Davidson has a “Neutral” rating and a $20.00 price objective on the stock. The consensus estimate for Columbia Banking System’s current full-year earnings is $2.25 per share. DA Davidson also issued estimates for Columbia Banking System’s FY2025 earnings at $2.70 EPS.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. Columbia Banking System had a return on equity of 11.58% and a net margin of 16.52%. The company had revenue of $473.72 million for the quarter, compared to analyst estimates of $480.39 million. During the same quarter last year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year.

COLB has been the topic of several other research reports. Citigroup decreased their price target on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. StockNews.com lowered Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Piper Sandler cut their price objective on Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. TheStreet downgraded Columbia Banking System from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company cut their price objective on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.19.

Columbia Banking System Stock Performance

Shares of COLB opened at $18.81 on Monday. Columbia Banking System has a 52-week low of $17.08 and a 52-week high of $28.11. The business’s fifty day moving average is $18.52 and its 200-day moving average is $21.15. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 8.07 and a beta of 0.71.

Institutional Trading of Columbia Banking System

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Keeley Teton Advisors LLC increased its holdings in Columbia Banking System by 11.0% during the 3rd quarter. Keeley Teton Advisors LLC now owns 405,480 shares of the financial services provider’s stock worth $8,231,000 after purchasing an additional 40,215 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Columbia Banking System by 1,633.4% in the third quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider’s stock valued at $25,936,000 after acquiring an additional 1,203,933 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Columbia Banking System by 32.5% in the third quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider’s stock valued at $79,980,000 after acquiring an additional 967,009 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of Columbia Banking System by 12.3% in the fourth quarter. First Hawaiian Bank now owns 20,062 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Columbia Banking System by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 146,066 shares of the financial services provider’s stock valued at $3,910,000 after acquiring an additional 25,771 shares in the last quarter. 92.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $18.48 per share, with a total value of $49,618.80. Following the acquisition, the director now owns 25,001 shares of the company’s stock, valued at $462,018.48. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Columbia Banking System news, insider Aaron James Deer acquired 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $19.32 per share, with a total value of $38,640.00. Following the purchase, the insider now directly owns 36,850 shares of the company’s stock, valued at $711,942. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth Whitehead Seaton bought 2,685 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $18.48 per share, with a total value of $49,618.80. Following the completion of the transaction, the director now directly owns 25,001 shares in the company, valued at $462,018.48. The disclosure for this purchase can be found here. Company insiders own 0.59% of the company’s stock.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.66%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s payout ratio is presently 61.80%.

Columbia Banking System Company Profile

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.