Here's What Key Metrics Tell Us About Columbia Banking (COLB) Q3 Earnings
For the quarter ended September 2023, Columbia Banking (COLB) reported revenue of $524.86 million, up 177.5% over the same period last year. EPS came in at $0.79, compared to $0.86 in the year-ago quarter.
The reported revenue represents a surprise of +0.38% over the Zacks Consensus Estimate of $522.9 million. With the consensus EPS estimate being $0.71, the EPS surprise was +11.27%.
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 0.3%.
Average Balance - Total interest earning assets: $48.98 billion versus the five-analyst average estimate of $49.28 billion.
Efficiency Ratio: 57.8% compared to the 58% average estimate based on five analysts.
Net Interest Margin: 3.9% compared to the 3.7% average estimate based on five analysts.
Total Non-Performing - Loan: $104.49 million compared to the $74.32 million average estimate based on two analysts.
Total Non-Performing - Assets: $105.66 million compared to the $74.96 million average estimate based on two analysts.
Total noninterest income: $43.98 million versus the five-analyst average estimate of $57.97 million.
Net interest income (FTE): $480.88 million compared to the $462.67 million average estimate based on four analysts.
Card revenue: $15.67 million compared to the $13.80 million average estimate based on three analysts.
Net Interest Income: $482.03 million versus the three-analyst average estimate of $462.12 million.
View all Key Company Metrics for Columbia Banking here>>>
Shares of Columbia Banking have returned +1.9% over the past month versus the Zacks S&P 500 composite's -1.6% 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 System, Inc. (COLB) : Free Stock Analysis Report
