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Columbia Banking System (COLB)
NASDAQ:COLB
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.65Last Year’s EPS
$0.44Same Quarter Last Year
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 11.09%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook with significant achievements in cost reduction and core deposit growth. The company's capital position is strong, and improvements in loan portfolio quality were noted. However, challenges persist with declines in loan balances and below-expected commercial loan growth.Company Guidance
During Columbia Banking System's Q3 2024 earnings call, the executives detailed several key metrics reflecting the bank's financial health and strategic initiatives. Columbia reported a Q3 EPS of $0.70 and an operating EPS of $0.69, with an operating return on tangible equity at 16% and an operating pre-provision net revenue (PPNR) of $221 million. The bank achieved merger-to-date gross expense reductions of $270 million, doubling the initially outlined savings of $135 million, resulting in net savings of roughly $213 million after accounting for franchise expansion and reinvestment costs. The company's net interest margin remained stable at 3.56%, aided by a reduction in interest-bearing deposit costs to 2.95% for Q3. Columbia's capital ratios improved, with a total risk-based capital ratio of 12.5% at the holding company level and 12.2% at the bank, surpassing long-term targets. Additionally, the bank experienced a 20% reduction in brokered deposits and a $200 million decline in loans, driven by reduced transactional loans. Columbia's continued focus on reinvestment and operational efficiency is expected to bolster its financial performance and shareholder value.Successful Cost Reduction Post-Merger
Achieved $270 million in merger-related gross expense reductions, surpassing the initial target of $135 million, with a net savings of approximately $213 million.
Core Deposit Growth and Reduced Brokered Deposits
Increased core deposit balances by $602 million, leading to a 20% reduction in brokered deposits during the quarter.
Improvement in Loan Portfolio Quality
Observed a 22% improvement in 31 to 89-day delinquencies, and a decline in classified loans due to risk rating upgrades.
Strong Capital Position
Risk-based capital ratios increased, with a total risk-based capital ratio of 12.5% at the holding company and 12.2% at the bank.
Increased Tangible Book Value
Tangible book value per share increased by 10% to $17.81.
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COLB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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COLB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $26.77 | $27.95 | +4.41% |
| Jul 25, 2024 | $23.55 | $26.28 | +11.59% |
| Apr 25, 2024 | $18.17 | $18.27 | +0.55% |
| Jan 24, 2024 | $23.98 | $18.91 | -21.14% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Columbia Banking System (COLB) report earnings?
Columbia Banking System (COLB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Columbia Banking System (COLB) earnings time?
Columbia Banking System (COLB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is COLB EPS forecast?
COLB EPS forecast for the fiscal quarter 2024 (Q4) is $0.65.
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