For the quarter ended December 2023, Columbia Banking (COLB - Free Report) reported revenue of $519.16 million, up 173.2% over the same period last year. EPS came in at $0.44, compared to $0.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $531.1 million, representing a surprise of -2.25%. The company delivered an EPS surprise of -45.00%, with the consensus EPS estimate being $0.80.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Columbia Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net charge-offs to average loans outstanding: 0.3% versus 0.3% estimated by five analysts on average.
- Average Balance - Total interest earning assets: $47.84 billion versus $48.36 billion estimated by five analysts on average.
- Efficiency Ratio: 64.8% versus 52.2% estimated by five analysts on average.
- Net Interest Margin: 3.8% versus 3.9% estimated by five analysts on average.
- Total non-performing loans and leases: $112.90 million compared to the $114.61 million average estimate based on three analysts.
- Total non-performing assets: $113.94 million versus $117.97 million estimated by three analysts on average.
- Total noninterest income: $65.53 million versus the five-analyst average estimate of $61.40 million.
- Net interest income (FTE): $454.73 million compared to the $471.30 million average estimate based on four analysts.
- Net Interest Income: $453.62 million versus $470.84 million estimated by four analysts on average.
- Service charges on deposits: $17.35 million versus the three-analyst average estimate of $17.39 million.
- Financial services and trust revenue: $3.01 million versus the three-analyst average estimate of $4.81 million.
- Gain on loan and lease sales, net: $1.16 million versus $2.44 million estimated by two analysts on average.
View all Key Company Metrics for Columbia Banking here>>>Shares of Columbia Banking have returned -6.9% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended December 2023, Columbia Banking (COLB - Free Report) reported revenue of $519.16 million, up 173.2% over the same period last year. EPS came in at $0.44, compared to $0.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $531.1 million, representing a surprise of -2.25%. The company delivered an EPS surprise of -45.00%, with the consensus EPS estimate being $0.80.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Columbia Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net charge-offs to average loans outstanding: 0.3% versus 0.3% estimated by five analysts on average.
- Average Balance - Total interest earning assets: $47.84 billion versus $48.36 billion estimated by five analysts on average.
- Efficiency Ratio: 64.8% versus 52.2% estimated by five analysts on average.
- Net Interest Margin: 3.8% versus 3.9% estimated by five analysts on average.
- Total non-performing loans and leases: $112.90 million compared to the $114.61 million average estimate based on three analysts.
- Total non-performing assets: $113.94 million versus $117.97 million estimated by three analysts on average.
- Total noninterest income: $65.53 million versus the five-analyst average estimate of $61.40 million.
- Net interest income (FTE): $454.73 million compared to the $471.30 million average estimate based on four analysts.
- Net Interest Income: $453.62 million versus $470.84 million estimated by four analysts on average.
- Service charges on deposits: $17.35 million versus the three-analyst average estimate of $17.39 million.
- Financial services and trust revenue: $3.01 million versus the three-analyst average estimate of $4.81 million.
- Gain on loan and lease sales, net: $1.16 million versus $2.44 million estimated by two analysts on average.
View all Key Company Metrics for Columbia Banking here>>>Shares of Columbia Banking have returned -6.9% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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