Brokerages forecast that Columbia Banking System, Inc. (NASDAQ:COLB) will announce $0.42 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Columbia Banking System’s earnings, with estimates ranging from $0.36 to $0.52. Columbia Banking System reported earnings of $0.70 per share in the same quarter last year, which suggests a negative year over year growth rate of 40%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, October 29th.

On average, analysts expect that Columbia Banking System will report full year earnings of $1.62 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.78. For the next year, analysts expect that the business will report earnings of $1.76 per share, with EPS estimates ranging from $1.65 to $1.93. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Columbia Banking System.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.27. The company had revenue of $159.11 million for the quarter, compared to analysts’ expectations of $143.60 million. Columbia Banking System had a net margin of 23.46% and a return on equity of 6.72%. During the same period in the previous year, the company posted $0.71 EPS.

COLB has been the topic of several recent research reports. Zacks Investment Research cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Monday, October 5th. ValuEngine cut shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Raymond James reissued a “hold” rating on shares of Columbia Banking System in a research note on Friday, September 18th. BidaskClub raised shares of Columbia Banking System from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 7th. Finally, Piper Sandler lowered their price target on shares of Columbia Banking System from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $36.50.

COLB traded up $0.10 during trading on Tuesday, hitting $26.22. The stock had a trading volume of 220,996 shares, compared to its average volume of 405,248. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $1.88 billion, a P/E ratio of 12.73 and a beta of 1.01. The company’s 50-day moving average price is $25.74 and its 200 day moving average price is $26.47. Columbia Banking System has a twelve month low of $19.11 and a twelve month high of $41.40.

In other news, EVP Andy Mcdonald sold 3,073 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $30.90, for a total transaction of $94,955.70. Following the transaction, the executive vice president now directly owns 39,813 shares of the company’s stock, valued at approximately $1,230,221.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC boosted its position in shares of Columbia Banking System by 0.8% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 70,262 shares of the financial services provider’s stock worth $1,992,000 after buying an additional 557 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Columbia Banking System by 84.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,389 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 636 shares in the last quarter. Deutsche Bank AG lifted its holdings in Columbia Banking System by 2.1% in the 1st quarter. Deutsche Bank AG now owns 31,348 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 654 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Columbia Banking System by 0.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 121,147 shares of the financial services provider’s stock valued at $2,889,000 after purchasing an additional 867 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in Columbia Banking System by 12.0% in the 2nd quarter. Brighton Jones LLC now owns 9,324 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Columbia Banking System Company Profile

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 Washington, Oregon, and Idaho. It offers personal banking products and services, including non-interest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

Read More: What is the Shanghai Stock Exchange Composite Index?

Get a free copy of the Zacks research report on Columbia Banking System (COLB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Columbia Banking System (NASDAQ:COLB)

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.