Regional banking company Columbia Banking System (NASDAQ: COLB) will be announcing earnings results tomorrow after the bell. Here’s what you need to know.
Columbia Banking System beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $579 million, up 18% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ tangible book value per share estimates.
Is Columbia Banking System a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Columbia Banking System’s revenue to grow 41% year on year to $696.2 million, a reversal from the 2.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.72 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Columbia Banking System has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Columbia Banking System’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ServisFirst Bancshares delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 6.8%, and Simmons First National reported revenues up 17.2%, topping estimates by 5.3%.
Read our full analysis of ServisFirst Bancshares’s results here and Simmons First National’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. Columbia Banking System’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $31.04 (compared to the current share price of $28.36).
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