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

Columbia Banking System

26/04/2024 24:16

* Columbia Banking System Inc  COLB.OQ  reported quarterly
adjusted earnings of 65 cents​​ per share for the quarter ended
in March, higher than the same quarter last year, when the
company reported EPS of 46 cents.  The mean expectation of
twelve analysts for the quarter was for earnings of 53 cents per
share. Wall Street expected results to range from 50 cents to 56
cents per share.
    * Revenue rose 10.3% to $473.72 million from a year ago;
analysts
expected $480.36 million. 
    * Columbia Banking System Inc's reported EPS for the quarter
was
59 cents​.
    * The company reported quarterly net income of $124.08
million.
    * Columbia Banking System Inc shares had fallen by 0.7% this
quarter and lost 28.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 13.3%
in the last three months.​ 
    * In the last 30 days, eight 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 April 25 at
11:16 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
 Mar. 31 2024      0.53           0.65           Beat
 Dec. 31 2023      0.79           0.44           Missed
 Sep. 30 2023      0.73           0.79           Beat
 Jun. 30 2023      0.93           0.81           Missed