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

Columbia Banking System (NASDAQ:COLB) released its earnings results on Thursday. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate 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 Trading 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 were exchanged, compared to its average volume of 1,456,713. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $32.85. The stock has a 50 day moving average of $28.90 and a two-hundred day moving average of $26.63. The stock has a market cap of $5.90 billion, a P/E 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 was Friday, November 29th. Columbia Banking System’s dividend payout ratio is presently 62.34%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COLB. JPMorgan Chase & Co. decreased their target price on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Barclays boosted their price objective on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Truist Financial boosted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $29.31.

About Columbia Banking System

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.