Columbia Banking System (NASDAQ:COLB) Releases Earnings Results, Beats Expectations By $0.06 EPS

Columbia Banking System (NASDAQ:COLB) announced its quarterly earnings data on Thursday. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06, Zacks reports. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%.

Columbia Banking System Stock Down 0.7 %

Shares of COLB opened at $27.96 on Friday. The firm has a market cap of $5.86 billion, a PE ratio of 12.10 and a beta of 0.67. The company’s fifty day moving average is $28.78 and its two-hundred day moving average is $26.70. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.15%. Columbia Banking System’s payout ratio is 62.34%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COLB shares. Truist Financial upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods dropped their price objective on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday. UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price on the stock. Barclays lifted their price target on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.23.

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.