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

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

Columbia Banking System Stock Down 2.2 %

Columbia Banking System stock traded down $0.62 during mid-day trading on Thursday, hitting $28.15. 2,151,644 shares of the company’s stock traded hands, compared to its average volume of 1,456,713. Columbia Banking System has a one year low of $17.08 and a one year high of $32.85. The firm has a 50 day moving average price of $28.90 and a 200 day moving average price of $26.63. The company has a market cap of $5.90 billion, a PE ratio of 12.19 and a beta of 0.67.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is 62.34%.

Analyst Ratings Changes

COLB has been the topic of a number of recent research reports. Wedbush boosted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on shares of Columbia Banking System from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upped their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $29.31.

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.