$116.58 Million in Sales Expected for Columbia Banking System, Inc. (COLB) This Quarter

Equities research analysts forecast that Columbia Banking System, Inc. (NASDAQ:COLB) will announce sales of $116.58 million for the current quarter, according to Zacks. Two analysts have provided estimates for Columbia Banking System’s earnings, with the highest sales estimate coming in at $123.86 million and the lowest estimate coming in at $109.30 million. Columbia Banking System posted sales of $108.74 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The company is expected to issue its next earnings report before the market opens on Thursday, October 26th.

On average, analysts expect that Columbia Banking System will report full-year sales of $116.58 million for the current fiscal year, with estimates ranging from $468.10 million to $488.98 million. For the next fiscal year, analysts forecast that the company will post sales of $575.02 million per share, with estimates ranging from $561.00 million to $589.03 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $112.27 million. Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. During the same quarter in the previous year, the firm posted $0.44 earnings per share.

COLB has been the topic of a number of research analyst reports. Zacks Investment Research raised Columbia Banking System from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub lowered Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 target price on shares of Columbia Banking System in a report on Friday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $42.00 target price on shares of Columbia Banking System in a report on Friday, September 8th. Finally, Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $43.00 to $46.00 in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.40.

Shares of Columbia Banking System (NASDAQ COLB) opened at 42.14 on Wednesday. The firm’s 50 day moving average is $39.03 and its 200 day moving average is $38.97. Columbia Banking System has a 12 month low of $31.75 and a 12 month high of $45.68. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 21.40 and a beta of 1.26.

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Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Columbia Banking System by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,602 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 46 shares during the period. D.A. Davidson & CO. boosted its position in shares of Columbia Banking System by 2.1% in the 2nd quarter. D.A. Davidson & CO. now owns 3,631 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 73 shares during the period. Amalgamated Bank boosted its position in shares of Columbia Banking System by 1.1% in the 2nd quarter. Amalgamated Bank now owns 7,945 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 84 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Columbia Banking System by 0.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 13,260 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Columbia Banking System by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the financial services provider’s stock valued at $948,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 96.24% of the company’s stock.

About Columbia Banking System

Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.

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