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Columbia Banking (COLB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Columbia Banking (COLB - Free Report) reported revenue of $472.15 million, down 9.8% over the same period last year. EPS came in at $0.67, compared to $0.81 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $474.8 million, representing a surprise of -0.56%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $0.57.
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 the five-analyst average estimate of 0.4%.
Average Balance - Total interest earning assets: $48.12 billion versus the five-analyst average estimate of $48.46 billion.
Efficiency Ratio: 59% versus the five-analyst average estimate of 59%.
Net Interest Margin: 3.6% versus the five-analyst average estimate of 3.5%.
Total non-performing loans and leases: $153.09 million compared to the $153.03 million average estimate based on three analysts.
Total non-performing assets: $155.93 million versus $155.22 million estimated by three analysts on average.
Total noninterest income: $44.70 million versus the five-analyst average estimate of $54.53 million.
Net Interest Income: $427.45 million compared to the $419.35 million average estimate based on four analysts.
Net interest income (FTE): $428.43 million versus $419.66 million estimated by four analysts on average.
Service charges on deposits: $18.50 million versus the three-analyst average estimate of $16.20 million.
Financial services and trust revenue: $5.40 million versus $4.40 million estimated by three analysts on average.
Residential mortgage banking revenue: $5.85 million versus $8.85 million estimated by two analysts on average.
Shares of Columbia Banking have returned +24.2% over the past month versus the Zacks S&P 500 composite's -0.3% 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) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Columbia Banking (COLB - Free Report) reported revenue of $472.15 million, down 9.8% over the same period last year. EPS came in at $0.67, compared to $0.81 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $474.8 million, representing a surprise of -0.56%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $0.57.
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 the five-analyst average estimate of 0.4%.
- Average Balance - Total interest earning assets: $48.12 billion versus the five-analyst average estimate of $48.46 billion.
- Efficiency Ratio: 59% versus the five-analyst average estimate of 59%.
- Net Interest Margin: 3.6% versus the five-analyst average estimate of 3.5%.
- Total non-performing loans and leases: $153.09 million compared to the $153.03 million average estimate based on three analysts.
- Total non-performing assets: $155.93 million versus $155.22 million estimated by three analysts on average.
- Total noninterest income: $44.70 million versus the five-analyst average estimate of $54.53 million.
- Net Interest Income: $427.45 million compared to the $419.35 million average estimate based on four analysts.
- Net interest income (FTE): $428.43 million versus $419.66 million estimated by four analysts on average.
- Service charges on deposits: $18.50 million versus the three-analyst average estimate of $16.20 million.
- Financial services and trust revenue: $5.40 million versus $4.40 million estimated by three analysts on average.
- Residential mortgage banking revenue: $5.85 million versus $8.85 million estimated by two analysts on average.
View all Key Company Metrics for Columbia Banking here>>>Shares of Columbia Banking have returned +24.2% over the past month versus the Zacks S&P 500 composite's -0.3% 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.