Columbia Banking System, Inc. (NASDAQ:COLB) – Analysts at DA Davidson boosted their Q1 2017 earnings estimates for Columbia Banking System in a research note issued to investors on Friday. DA Davidson analyst J. Rulis now forecasts that the firm will post earnings of $0.51 per share for the quarter, up from their previous estimate of $0.50. DA Davidson also issued estimates for Columbia Banking System’s Q4 2017 earnings at $0.61 EPS and FY2017 earnings at $2.10 EPS.
Separately, Zacks Investment Research upgraded Columbia Banking System from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, October 31st.
Shares of Columbia Banking System (NASDAQ:COLB) opened at 40.87 on Monday. The firm’s 50-day moving average is $43.15 and its 200-day moving average is $35.77. Columbia Banking System has a 1-year low of $26.17 and a 1-year high of $45.68. The firm has a market cap of $2.37 billion, a P/E ratio of 22.58 and a beta of 1.36.
Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. Columbia Banking System had a net margin of 23.77% and a return on equity of 8.40%. The firm had revenue of $108.07 million for the quarter, compared to the consensus estimate of $111.40 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Investors of record on Wednesday, February 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, February 6th. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.20. Columbia Banking System’s dividend payout ratio is 44.20%.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Columbia Banking System by 5.3% in the second quarter. Vanguard Group Inc. now owns 4,725,629 shares of the financial services provider’s stock worth $132,602,000 after buying an additional 237,690 shares during the period. BlackRock Fund Advisors boosted its stake in Columbia Banking System by 8.5% in the third quarter. BlackRock Fund Advisors now owns 4,015,648 shares of the financial services provider’s stock worth $131,392,000 after buying an additional 314,943 shares during the period. Victory Capital Management Inc. boosted its stake in Columbia Banking System by 60.7% in the third quarter. Victory Capital Management Inc. now owns 2,783,749 shares of the financial services provider’s stock worth $91,084,000 after buying an additional 1,052,016 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Columbia Banking System by 5.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,780,119 shares of the financial services provider’s stock worth $90,965,000 after buying an additional 143,620 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Columbia Banking System by 21.1% in the second quarter. Franklin Resources Inc. now owns 2,562,569 shares of the financial services provider’s stock worth $71,906,000 after buying an additional 446,800 shares during the period. Institutional investors and hedge funds own 90.87% of the company’s stock.
About Columbia Banking System
Columbia Banking System, Inc is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho.