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Compared to Estimates, Columbia Banking (COLB) Q2 Earnings: A Look at Key Metrics
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Columbia Banking (COLB - Free Report) reported $523.65 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 203.6%. EPS of $0.81 for the same period compares to $0.79 a year ago.
The reported revenue represents a surprise of -10.13% over the Zacks Consensus Estimate of $582.64 million. With the consensus EPS estimate being $0.93, the EPS surprise was -12.90%.
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.
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:
Efficiency Ratio: 62.6% versus the four-analyst average estimate of 53.61%.
Net Interest Margin [%]: 3.93% compared to the 4.22% average estimate based on four analysts.
Average Balance - Total interest earning assets: $49.44 billion versus $48.88 billion estimated by four analysts on average.
Net charge-offs to average loans outstanding: 0.3% compared to the 0.23% average estimate based on four analysts.
Net interest income (FTE): $485.17 million versus the four-analyst average estimate of $514.49 million.
Total noninterest income: $39.68 million versus the four-analyst average estimate of $66.89 million.
Net Interest Income: $483.98 million compared to the $512.85 million average estimate based on two analysts.
Shares of Columbia Banking have returned +3.2% over the past month versus the Zacks S&P 500 composite's +3.4% 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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Compared to Estimates, Columbia Banking (COLB) Q2 Earnings: A Look at Key Metrics
Columbia Banking (COLB - Free Report) reported $523.65 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 203.6%. EPS of $0.81 for the same period compares to $0.79 a year ago.
The reported revenue represents a surprise of -10.13% over the Zacks Consensus Estimate of $582.64 million. With the consensus EPS estimate being $0.93, the EPS surprise was -12.90%.
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.
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:
- Efficiency Ratio: 62.6% versus the four-analyst average estimate of 53.61%.
- Net Interest Margin [%]: 3.93% compared to the 4.22% average estimate based on four analysts.
- Average Balance - Total interest earning assets: $49.44 billion versus $48.88 billion estimated by four analysts on average.
- Net charge-offs to average loans outstanding: 0.3% compared to the 0.23% average estimate based on four analysts.
- Net interest income (FTE): $485.17 million versus the four-analyst average estimate of $514.49 million.
- Total noninterest income: $39.68 million versus the four-analyst average estimate of $66.89 million.
- Net Interest Income: $483.98 million compared to the $512.85 million average estimate based on two analysts.
View all Key Company Metrics for Columbia Banking here>>>Shares of Columbia Banking have returned +3.2% over the past month versus the Zacks S&P 500 composite's +3.4% 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.