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Friday, July 1, 2022

NASDAQ: COLB Will Bring In $145.80 Million Post Quarterly Sales As Per Analysts

Zacks Research Investment announces that the stock market analysts are anticipating $145.80 million post quarterly sales for Columbia Banking System Inc (NASDAQ: COLB). Other Wall Street analysts have also commented on the issue. The estimates range between $143.10 million and $148.50 million. Last year this time, the company had announced $150.48 million as its quarterly sales. NASDAQ: COLB will reveal its quarterly earnings on 29fh October during a Thursday report. 

As per stock market analysts, Columbia Banking System Inc’s yearly sales for this year will be $589.15 million. The estimated range between $586.50 million and $591.80 million. And, they expect that NASDAQ: COLB will bring in $568.45 million next year. The estimated range between $540.10 million and $596.80 million. 

What Do Stock Market Analysts Say About NASDAQ: COLB report?

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ValuEngine decreased its Columbia Banking shares to a rating of “sell” from a rating of “hold” on 1st October during a  Thursday report. Zacks Investment Research, on the other hand, decreased its rating of “hold” to a rating of “sell” on 5th October during a Monday report.

Raymond James announced a rating of “hold” on NASDAQ: COLB shares on 18th September during a Friday report. Piper Sandler reduced its Columbia Banking System Inc price target to $34.00 from $35.00. They also issued a rating of “overweight” on 1st October during a Thursday report. Lastly, BidaskClub increased its NASDAQ: COLB shares from a rating of “strong sell” to a rating of “sell” on 7th October during a Wednesday report. 

Three stock market analysts issued a rating of “sell” to NASDAQ: COLB stock, three issued a rating of “hold” and one analyst issued a rating of “buy” for Columbia Banking System Inc. NASDAQ: COLB stock currently has an average “hold” rating and a price target of $36.50. 

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On 23rd July, during a Thursday report, announced its earnings for the quarter. As per reports, NASDAQ: COLB earned $0.50 EPS, surpassing Zacks’ estimated consensus of $0.25. The company had a net margin m and a return on equity of 23.46 percent and 6.72 percent. Columbia Banking System Inc’s revenue for the quarter came to $159.11 million. Stock market analysts had estimated that the company would bring in $143.60 million. 

Which Hedge Funds Increased Or Decreased Their Columbia Banking System Holdings?

Schroder Investment Management Group squires NASDAQ: COLB holdings worth $17,077,000. ProShare Advisors LLC also acquired Columbia Banking shares worth $7,568,000. 

Man Group plc increased its NASDAQ: COLB holdings by 394.1 percent. Bank of New York Mellon Corp also increased its Columbia Banking shares by 11.2 percent. Lastly, Grange Investment Partners LLC increased its Columbia Banking holdings by 47.0 percent. 

92.11 percent of NASDAQ: COLB stock is under hedge funds and stock market institutional investors.

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