Regional banking company Columbia Banking System (NASDAQ: COLB) will be reporting earnings this Thursday after the bell. Here’s what to look for.
Columbia Banking System met analysts’ revenue expectations last quarter, reporting revenues of $677 million, up 40.2% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a slight miss 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, the market is expecting Columbia Banking System’s revenue to grow 34.3% year on year, improving from the 6.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Columbia Banking System rarely misses Wall Street’s revenue estimates.
Looking at Columbia Banking System’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and BOK Financial reported revenues up 10.1%, topping estimates by 2.8%. BOK Financial’s stock price was unchanged following the results.
Read our full analysis of OFG Bancorp’s results here and BOK Financial’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 4.8% on average over the last month. Columbia Banking System is up 7.4% during the same time and is heading into earnings with an average analyst price target of $33.64 (compared to the current share price of $33.17).
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