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Columbia Banking Q3 profit rises 

By Reuters News


Overview

  • US regional bank's Q3 net income and EPS rose yr/yr, net interest income up from Q2

  • Company completed prior share repurchase plan, authorizes new $1.2 bln buyback

  • Profitability improved due to balance sheet management and relationship-driven growth


Outlook

  • Columbia Banking System authorized a new $1.2 bln share repurchase program with no expiration date

  • Company expects to redeem about $240 mln in junior subordinated debentures in 4Q26 and early 2027

  • Company says competitive pricing pressure and elevated payoffs may continue to affect loan growth


Result Drivers

  • NET INTEREST INCOME - Co said net interest income rose due to higher income on loans and investment securities and lower funding costs

  • DEPOSIT GROWTH - Co said deposit growth was driven by seasonal customer balance increases and new customer acquisition

  • EXPENSE REDUCTION - Co said non-interest expense fell due to lower merger expense


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.78

Q3 Net Interest Income

$615 mln

Q3 Net Interest Margin

4.11%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy"

  • Wall Street's median 12-month price target for Columbia Banking System Inc is $33.00, about 13% above its October 21 closing price of $29.20

  • The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin

  • Oct 19 - Zions Bancorp Q3 EPS rises 20% on improved credit quality

  • Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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