Whisper Number: How Will Columbia Banking System, Inc. (COLB) Investors React To Earnings?

48 days have passed by since the last earnings report for Columbia Banking System, Inc. (NASDAQ:COLB) and the new quarterly results look set to arrive in 44 days. The shares of COLB at the moment are trading at a volume of 0.32 million, which compares with its normal daily standard volume of 239084 shares. This has led to the shares of the company advancing by 2.5%, currently exchanging hands at $36.45 a share. COLB stock has been up by $5.42 (-12.45%) ever since it reached its 52-week high of $41.87 back in September 11, 2018. It has progressed above its 50-day moving average of $35.02 and is up 7.14% over the past week. The stock has retreated -5.9% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the COLB share price due for a breakout?

Columbia Banking System, Inc. (COLB) Forecasts And Latest Quarter Earnings

Ahead of their fiscal third-quarter to be released on Friday, Oct 25, 2019, 7 analysts who are covering the company are estimating that it will record a profit of $0.59 per share, with analysts having different outlooks from $0.54 to $0.63. The current agreed outlook, when compared to the profit recorded last year, is at $0.63 a share, thus a decrease of -6.35% is expected. The profit view for a complete financial year for Columbia Banking System, Inc. is expected to be around $2.54 in current year, a decline of nearly 7.63% from last year which was $2.36.

Analyzing The Earnings History Of Columbia Banking System, Inc. (NASDAQ:COLB)

In the past few years, the COLB stock has been known to miss the Wall Street’s earnings projection. The company missed 50% of the time, according to the data pulled on their earnings, was able to meet predictions on 2 occasions and topped expectations 4 times. Looking at the past trend, the price of Columbia Banking System, Inc. shares had sank following the release of their earnings in 20 of the last 38 quarters.

Looking back, here is how Columbia Banking System, Inc. (COLB) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of Columbia Banking System, Inc. recorded 0.65%, 3.3%, -5.48% and 6.24%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 2.47%, 5.01%, -5.22% and 11.78%. Their post-earnings price movements have resulted in an average increase of 1.18% and an average increase of 3.51% in Columbia Banking System, Inc. on next day and 7th day, sequentially. COLB’s one month stock performance led to its shares rising by 4.17% with a return of -12.01% witnessed over the last 52 weeks.

Columbia Banking System, Inc. (COLB) Post Earnings Announcement Drift (PEAD)

Back on July 25, 2019, Columbia Banking System, Inc. (NASDAQ:COLB) released its Q2 results, in which it recorded EPS of $0.71 that exceeded consensus estimates of $0.61. After the earnings were reported, the price of COLB stock kicked off the session at $36.18 and remained in a range of $36.71 to $37.38 on the first day. The shares were priced at $37.04 at the close with a total volume of shares being 408378.

On April 25, 2019, the Q1 earnings report was disclosed with EPS of $0.63. This was above the estimation of $0.61 per share. The stock price range of COLB was between $34.93 and $36.48 on the first-day post announcement, after opening the day at $34.39. The session came to close at $36.05 and there was a total volume of 466042 shares.

January 24, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.61, missing the projected $0.68 per share. The very next day, COLB stock opened at $36.05 while staying in a range of $37.79 to $37.88. At the end, it moved to $36.39 a total volume of shares been 920109.

In the year-ago Q3 earnings on October 25, 2018, the company saw profit per share of $0.63. That was equal to the $0.63 analysts had expected. Columbia Banking System, Inc. share price started at $31.35 on the first full trading day post-earning and then exchanged hands between $32.17 and $35.75 throughout the session. The closing price of $35.25 came on the back of 684077 shares in volume.