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Columbia Banking (COLB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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Columbia Banking (COLB - Free Report) reported $473.72 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 10.3%. EPS of $0.65 for the same period compares to $0.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $478.44 million, representing a surprise of -0.99%. The company delivered an EPS surprise of +22.64%, with the consensus EPS estimate being $0.53.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Efficiency Ratio: 60.6% versus the five-analyst average estimate of 60.5%.
Net Interest Margin: 3.5% versus the five-analyst average estimate of 3.5%.
Net charge-offs to average loans outstanding: 0.5% versus the five-analyst average estimate of 0.3%.
Average Balance - Total interest earning assets: $48.28 billion versus the five-analyst average estimate of $48.17 billion.
Total non-performing assets: $143.80 million versus $113.26 million estimated by three analysts on average.
Total non-performing loans and leases: $142.04 million versus $105.35 million estimated by two analysts on average.
Total noninterest income: $50.36 million versus $55.08 million estimated by five analysts on average.
Net interest income (FTE): $424.34 million versus the four-analyst average estimate of $422.83 million.
Net Interest Income: $423.36 million versus $423.10 million estimated by four analysts on average.
Service charges on deposits: $16.06 million versus $17.23 million estimated by three analysts on average.
Financial services and trust revenue: $4.46 million versus the three-analyst average estimate of $3.16 million.
Gain on loan and lease sales, net: $0.22 million versus the two-analyst average estimate of $1.05 million.
Shares of Columbia Banking have returned +0.6% over the past month versus the Zacks S&P 500 composite's -3% 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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Columbia Banking (COLB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Columbia Banking (COLB - Free Report) reported $473.72 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 10.3%. EPS of $0.65 for the same period compares to $0.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $478.44 million, representing a surprise of -0.99%. The company delivered an EPS surprise of +22.64%, with the consensus EPS estimate being $0.53.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Efficiency Ratio: 60.6% versus the five-analyst average estimate of 60.5%.
- Net Interest Margin: 3.5% versus the five-analyst average estimate of 3.5%.
- Net charge-offs to average loans outstanding: 0.5% versus the five-analyst average estimate of 0.3%.
- Average Balance - Total interest earning assets: $48.28 billion versus the five-analyst average estimate of $48.17 billion.
- Total non-performing assets: $143.80 million versus $113.26 million estimated by three analysts on average.
- Total non-performing loans and leases: $142.04 million versus $105.35 million estimated by two analysts on average.
- Total noninterest income: $50.36 million versus $55.08 million estimated by five analysts on average.
- Net interest income (FTE): $424.34 million versus the four-analyst average estimate of $422.83 million.
- Net Interest Income: $423.36 million versus $423.10 million estimated by four analysts on average.
- Service charges on deposits: $16.06 million versus $17.23 million estimated by three analysts on average.
- Financial services and trust revenue: $4.46 million versus the three-analyst average estimate of $3.16 million.
- Gain on loan and lease sales, net: $0.22 million versus the two-analyst average estimate of $1.05 million.
View all Key Company Metrics for Columbia Banking here>>>Shares of Columbia Banking have returned +0.6% over the past month versus the Zacks S&P 500 composite's -3% 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.