During the last session, Columbia Banking System Inc. (NASDAQ:COLB)’s traded shares were 1.51 million, with the beta value of the company hitting 0.66. At the end of the trading day, the stock’s price was $20.86, reflecting an intraday loss of -1.04% or -$0.22. The 52-week high for the COLB share is $35.53, that puts it down -70.33 from that peak though still a striking 15.92% gain since the share price plummeted to a 52-week low of $17.54. The company’s market capitalization is $4.48B, and the average intraday trading volume over the past 10 days was 2.32 million shares, and the average trade volume was 3.42 million shares over the past three months.
Columbia Banking System Inc. (COLB) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. COLB has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.94.
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Columbia Banking System Inc. (NASDAQ:COLB) trade information
Columbia Banking System Inc. (COLB) registered a -1.04% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.04% in intraday trading to $20.86 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -1.14%, and it has moved by 4.46% in 30 days. Based on these gigs, the overall price performance for the year is -26.86%. The short interest in Columbia Banking System Inc. (NASDAQ:COLB) is 6.16 million shares and it means that shorts have 2.59 day(s) to cover.
The consensus price target of analysts on Wall Street is $27.25, which implies an increase of 23.45% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $21.50 and $32.00 respectively. As a result, COLB is trading at a discount of -53.4% off the target high and -3.07% off the low.
Columbia Banking System Inc. (COLB) estimates and forecasts
Statistics show that Columbia Banking System Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Columbia Banking System Inc. (COLB) shares have gone down -38.50% during the last six months, with a year-to-date growth rate more than the industry average at 5.31% against -7.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 25.30% this quarter and then jump 15.70% in the quarter after that. In the rating firms’ projections, revenue will increase 203.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $589.58 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $585.63 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $172.46 million and $189.12 million respectively. In this case, analysts expect current quarter sales to grow by 241.90% and then jump by 209.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 9.20%. While earnings are projected to return 15.10% in 2023, the next five years will return 8.00% per annum.
Columbia Banking System Inc. is due to release its next quarterly earnings between July 19 and July 24. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Columbia Banking System Inc. is 1.44, with the dividend yield indicating at 6.90 percent, continuing the trend of increasing dividends in recent years.
Columbia Banking System Inc. (NASDAQ:COLB)’s Major holders
Columbia Banking System Inc. insiders own 0.58% of total outstanding shares while institutional holders control 46.28%, with the float percentage being 46.55%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 385 institutions own stock in it. As of Mar 30, 2023, the company held over 21.98 million shares (or 10.54% of all shares), a total value of $470.81 million in shares.
The next largest institutional holding, with 18.79 million shares, is of Blackrock Inc.’s that is approximately 9.01% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $402.51 million.
Also, the Mutual Funds coming in first place with the largest holdings of Columbia Banking System Inc. (COLB) shares are Franklin Value Investors Trust-Franklin Small Cap Value and Price (T.Rowe) Small-Cap Value Fund. Data provided on Jan 30, 2023 indicates that Franklin Value Investors Trust-Franklin Small Cap Value owns about 2.98 million shares. This amounts to just over 1.43 percent of the company’s overall shares, with a $91.17 million market value. The same data shows that the other fund manager holds slightly less at 2.44 million, or about 1.17% of the stock, which is worth about $72.97 million.