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

Columbia Banking System (NASDAQ:COLB) posted its quarterly earnings data on Thursday. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06, Zacks reports. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%.

Columbia Banking System Price Performance

Shares of COLB stock opened at $28.15 on Friday. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $32.85. The firm has a market cap of $5.90 billion, a PE ratio of 12.19 and a beta of 0.67. The company has a 50-day moving average of $28.84 and a two-hundred day moving average of $26.64.

Columbia Banking System Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 5.12%. Columbia Banking System’s dividend payout ratio (DPR) is currently 62.34%.

Analyst Upgrades and Downgrades

Several research firms recently commented on COLB. UBS Group began coverage on Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada upped their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Raymond James raised their target price on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wedbush upped their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.