Columbia Banking System Inc reports results for the quarter ended in September 30 - Earnings Summary

Columbia Banking System

24/10/2024 17:01

* Columbia Banking System Inc  COLB.OQ  reported quarterly
adjusted earnings of 69 cents​​ per share for the quarter ended
September 30, lower than the same quarter last year, when the
company reported EPS of 79 cents.  The mean expectation of
twelve analysts for the quarter was for earnings of 62 cents per
share. Wall Street expected results to range from 57 cents to 65
cents per share.
    * Revenue fell 5.4% to $496.38 million from a year ago;
analysts
expected $481.03 million. 
    * Columbia Banking System Inc's reported EPS for the quarter
was
70 cents​.
    * The company reported quarterly net income of $146.18
million.
    * Columbia Banking System Inc shares had risen by 3.7% this
quarter and gained 1.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 9
"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 28.00 
This summary was machine generated from LSEG data October 24 at
04:01 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
 Sep. 30 2024      0.62           0.69           Beat
 Jun. 30 2024      0.57           0.67           Beat
 Mar. 31 2024      0.53           0.65           Beat
 Dec. 31 2023      0.79           0.44           Missed