Columbia Banking System (NASDAQ:COLB) Releases Earnings Results, Beats Estimates By $0.01 EPS

Columbia Banking System (NASDAQ:COLBGet Rating) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01, reports. Columbia Banking System had a net margin of 31.38% and a return on equity of 10.51%. The company had revenue of $203.47 million during the quarter, compared to the consensus estimate of $197.70 million. During the same quarter in the prior year, the company posted $0.55 EPS.

Columbia Banking System Trading Down 0.6 %

Shares of NASDAQ:COLB traded down $0.17 during trading on Wednesday, reaching $29.18. 38,854 shares of the stock were exchanged, compared to its average volume of 1,281,597. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.66 and a current ratio of 0.66. Columbia Banking System has a 12-month low of $26.97 and a 12-month high of $37.59. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 10.23 and a beta of 0.70. The firm’s 50-day moving average price is $30.78 and its 200 day moving average price is $30.77.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 21st. Stockholders of record on Monday, February 6th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, February 3rd. Columbia Banking System’s payout ratio is currently 41.81%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Columbia Banking System from $37.00 to $33.00 in a research note on Wednesday. assumed coverage on shares of Columbia Banking System in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Institutional Trading of Columbia Banking System

Institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Columbia Banking System by 2.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,825 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 362 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Columbia Banking System in the 1st quarter worth approximately $484,000. Centiva Capital LP purchased a new position in Columbia Banking System in the 2nd quarter worth approximately $480,000. Jane Street Group LLC purchased a new position in Columbia Banking System in the 3rd quarter worth approximately $428,000. Finally, Walleye Capital LLC purchased a new position in Columbia Banking System in the 1st quarter worth approximately $398,000.

About Columbia Banking System

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

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Earnings History for Columbia Banking System (NASDAQ:COLB)

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