Columbia Banking System Inc reports results for the quarter ended in December - Earnings Summary

Columbia Banking System

25/01/2024 01:01

* Columbia Banking System Inc  COLB.OQ  reported quarterly
adjusted earnings of 44 cents​​ per share for the quarter ended
in December, lower than the same quarter last year, when the
company reported EPS of 88 cents.  The mean expectation of
twelve analysts for the quarter was for earnings of 79 cents per
share. Wall Street expected results to range from 73 cents to 82
cents per share.
    * Revenue rose 173.2% to $519.16 million from a year ago;
analysts
expected $526.54 million. 
    * Columbia Banking System Inc's reported EPS for the quarter
was
45 cents​.
    * The company reported quarterly net income of $93.53
million.
    * Columbia Banking System Inc shares had fallen by 5.9% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.7%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Columbia Banking
System Inc is $28.00 
This summary was machine generated from LSEG data January 25 at
01:00 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.79           0.44           Missed
 Sep. 30 2023      0.73           0.79           Beat
 Jun. 30 2023      0.93           0.81           Missed
 Mar. 31 2023      0.45           0.46           Beat