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

Columbia Banking System

25/07/2024 22:54

* Columbia Banking System Inc  COLB.OQ  reported quarterly
adjusted earnings of 67 cents​​ per share for the quarter ended
in June, lower than the same quarter last year, when the company
reported EPS of 81 cents.  The mean expectation of
twelve analysts for the quarter was for earnings of 57 cents per
share. Wall Street expected results to range from 52 cents to 61
cents per share.
    * Revenue fell 9.8% to $472.15 million from a year ago;
analysts
expected $475.95 million. 
    * Columbia Banking System Inc's reported EPS for the quarter
was
57 cents​.
    * The company reported quarterly net income of $120.14
million.
    * Columbia Banking System Inc shares had risen by 17.5% this
quarter and lost 12.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.9%
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 "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 10
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Columbia Banking
System Inc is $21.00 
This summary was machine generated from LSEG data July 25 at
09:54 p.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
 Jun. 30 2024      0.57           0.67           Beat
 Mar. 31 2024      0.53           0.65           Beat
 Dec. 31 2023      0.79           0.44           Missed
 Sep. 30 2023      0.73           0.79           Beat