NasdaqGS:COLB

Stock Analysis Report

Columbia Banking System

Executive Summary

Columbia Banking System, Inc. operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho.

Snowflake

Fundamentals

Flawless balance sheet with proven track record and pays a dividend.


Similar Companies

Share Price & News

How has Columbia Banking System's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.2%

COLB

1.2%

US Banks

0.6%

US Market


1 Year Return

-1.8%

COLB

0.03%

US Banks

6.2%

US Market

Return vs Industry: COLB underperformed the US Banks industry which returned 0% over the past year.

Return vs Market: COLB underperformed the US Market which returned 6.2% over the past year.


Share holder returns

COLBIndustryMarket
7 Day0.2%1.2%0.6%
30 Day-3.8%-2.2%-1.8%
90 Day2.1%-0.06%-2.0%
1 Year2.3%-1.8%2.9%0.03%8.6%6.2%
3 Year23.3%12.4%51.4%40.9%45.7%36.3%
5 Year74.9%45.2%70.7%52.1%68.5%50.0%

Price Volatility Vs. Market

How volatile is Columbia Banking System's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Columbia Banking System undervalued based on future cash flows and its price relative to the stock market?

1%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: COLB ($36.09) is trading below our estimate of fair value ($36.48)

Significantly Undervalued: COLB is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: COLB is poor value based on its PE Ratio (14x) compared to the Banks industry average (12.5x).

PE vs Market: COLB is good value based on its PE Ratio (14x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: COLB is poor value based on its PEG Ratio (11.2x)


Price Based on Value of Assets

PB vs Industry: COLB is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Columbia Banking System expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

1.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: COLB's forecast earnings growth (1.2% per year) is below the savings rate (2.7%).

Earnings vs Market: COLB's earnings (1.2% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: COLB's earnings are forecast to grow, but not significantly.

Revenue vs Market: COLB's revenue (2.1% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: COLB's revenue (2.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: COLB's Return on Equity is forecast to be low in 3 years time (8.4%).


Next Steps

Past Performance

How has Columbia Banking System performed over the past 5 years?

17.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: COLB's earnings have grown by 17.2% per year over the past 5 years.

Accelerating Growth: COLB's earnings growth over the past year (36.9%) exceeds its 5-year average (17.2% per year).

Earnings vs Industry: COLB earnings growth over the past year (36.9%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: COLB's Return on Equity (8.8%) is considered low.


Return on Assets

ROA vs Industry: COLB has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate COLB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Columbia Banking System's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: COLB has a low level of unsold assets or inventory.

Debt Coverage by Assets: COLB's debt is not covered by short term assets (assets are 0.6x debt).


Financial Institutions Analysis

Asset Level: COLB's level of assets compared to its equity is low.

Allowance for Bad Loans: COLB has a sufficient allowance for bad loans.

Low Risk Liabilities: COLB's liabilities are made up of primarily low risk sources of funding.

Loan Level: COLB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: COLB's loans are broadly funded by customer deposits.

Level of Bad Loans: COLB has an appropriate level of bad loans (0.45%)


Next Steps

Dividend

What is Columbia Banking System's current dividend yield, its reliability and sustainability?

3.54%

Expected Dividend Yield


Dividend Yield vs Market

company3.5%marketbottom25%1.5%markettop25%3.8%industryaverage2.5%forecastin3Years3.5%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: COLB's dividend (3.49%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: COLB's dividend (3.49%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: COLB's dividend payments have been volatile in the past 10 years.

Growing Dividend: COLB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.9%), COLB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: COLB's dividends in 3 years are forecast to be well covered by earnings (49.3% payout ratio).


Next Steps

Management

What is the CEO of Columbia Banking System's salary, the management and board of directors tenure and is there insider trading?

2.3yrs

Average management tenure


CEO

Hadley Robbins (62yo)

2.3yrs

Tenure

US$2,401,986

Compensation

Mr. Hadley S. Robbins serves as President and Chief Executive Officer of Columbia Banking System, Inc., (“Columbia”) and Columbia State Bank since July 01, 2017. Mr. Robbins served as Interim Chief Executi ...


CEO Compensation Analysis

Compensation vs. Market: Hadley has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.

Compensation vs Earnings: Hadley's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.3yrs

Average Tenure

55yo

Average Age

Experienced Management: COLB's management team is considered experienced (2.3 years average tenure).


Board Age and Tenure

5.0yrs

Average Tenure

61.5yo

Average Age

Experienced Board: COLB's board of directors are considered experienced (5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$4,65603 Jul 19
Clint Stein
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares143
Max PriceUS$32.56
BuyUS$5,63303 Jul 19
David Lawson
EntityIndividual
Role
Head of Human Resources
Executive VP & Chief Human Resources Officer
Shares173
Max PriceUS$32.56
BuyUS$8,43303 Jul 19
Kumi Baruffi
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares259
Max PriceUS$32.56
SellUS$122,04412 Jun 19
Andrew McDonald
EntityIndividual
Shares3,481
Max PriceUS$35.06
SellUS$25,17626 Feb 19
Clint Stein
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares657
Max PriceUS$38.32
BuyUS$2,15604 Jan 19
Clint Stein
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares66
Max PriceUS$32.66
BuyUS$2,90704 Jan 19
David Lawson
EntityIndividual
Role
Head of Human Resources
Executive VP & Chief Human Resources Officer
Shares89
Max PriceUS$32.66
BuyUS$6,85904 Jan 19
Kumi Baruffi
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares210
Max PriceUS$32.66
SellUS$117,84021 Nov 18
Andrew McDonald
EntityIndividual
Shares3,074
Max PriceUS$38.33

Ownership Breakdown


Management Team

  • Hadley Robbins (62yo)

    President

    • Tenure: 2.3yrs
    • Compensation: US$2.40m
  • Lisa Dow (59yo)

    Executive VP & Chief Risk Officer

    • Tenure: 0yrs
  • Clint Stein (47yo)

    Executive VP & COO

    • Tenure: 2.3yrs
    • Compensation: US$1.09m
  • Dave Lawson (60yo)

    Executive VP & Chief Human Resources Officer

    • Tenure: 6.3yrs
    • Compensation: US$775.89k
  • David Devine

    Executive VP & Chief Marketing Officer

    • Tenure: 0yrs
  • Kumi Baruffi (48yo)

    Executive VP

    • Tenure: 5.1yrs
    • Compensation: US$760.06k
  • Brock Lakely

    Senior VP & Chief Accounting Officer

    • Tenure: 1.3yrs
  • Greg Sigrist (51yo)

    Executive VP & CFO

    • Tenure: 1.3yrs
    • Compensation: US$713.01k
  • Eric Eid

    Executive VP and Chief Innovation & Technology Officer

    • Tenure: 1.5yrs
  • Amy L. Betts

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Thomas Hulbert (72yo)

    Director

    • Tenure: 20.8yrs
    • Compensation: US$151.97k
  • Hadley Robbins (62yo)

    President

    • Tenure: 2.3yrs
    • Compensation: US$2.40m
  • Ford Elsaesser (67yo)

    Director

    • Tenure: 5yrs
    • Compensation: US$141.97k
  • Craig Eerkes (67yo)

    Chairman of the Board

    • Tenure: 1.4yrs
    • Compensation: US$169.22k
  • Michelle Lantow (57yo)

    Director

    • Tenure: 7.7yrs
    • Compensation: US$154.13k
  • Mae Numata (63yo)

    Director

    • Tenure: 7.7yrs
    • Compensation: US$141.83k
  • Betsy Seaton (58yo)

    Director

    • Tenure: 5.4yrs
    • Compensation: US$139.22k
  • Mark Finkelstein (60yo)

    Director

    • Tenure: 5.1yrs
    • Compensation: US$136.97k
  • Eric Forrest (52yo)

    Director

    • Tenure: 2yrs
    • Compensation: US$136.32k
  • Randy Lund (61yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: US$138.97k

Company Information

Columbia Banking System, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Columbia Banking System, Inc.
  • Ticker: COLB
  • Exchange: NasdaqGS
  • Founded: 1993
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$2.632b
  • Shares outstanding: 72.94m
  • Website: https://www.columbiabank.com

Number of Employees


Location

  • Columbia Banking System, Inc.
  • 1301 A Street
  • Tacoma
  • Washington
  • 98402
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
COLBNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 1992

Biography

Columbia Banking System, Inc. operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 00:07
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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