Stock fact sheet · data as of
Columbia Banking System, Inc. (COLB): fair value, margin of safety and Wheel Score
Ticker symbol COLB · Financial Services · Banks - Regional · United States · Blend Income
Is COLB undervalued?
At 31.37 (close of 5 Nov 2026), COLB trades 35% below the GLS average fair value of 48.62. That average comes from 9 models run on the latest filings, and 6 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Columbia Banking System, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The 9 models disagree widely: DCF gives 14.98 while Payback Time gives 94.14. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for COLB, so the nightly engine files it under Blend (value score 67, growth score 51, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for COLB
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 14.98 | -52% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 41.30 | +32% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 72.49 | +131% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 24.36 | -22% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 41.72 | +33% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 93.59 | +198% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 94.14 | +200% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 21.78 | -31% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 33.23 | +6% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -202.55 | -746% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 33.67 | +7% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - COLB passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 3.5 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC 4.6%, ROE 7.0%, ROA 0.8% - with debt at 0.51 times equity and a free-cash-flow yield of 11.3%.
The dividend yield is high at 4.72% (payout ratio 38%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Card based Fees 53%, Investment Advisory, Management and Adm… 47% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 6/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 4.6% |
|---|---|---|---|
| GLS Moat | 3.5 / 10 | ROE | 7.0% |
| Debt / equity | 0.51 | ROA | 0.8% |
| Free-cash-flow yield | 11.3% | Payout ratio | 38% |
| Institutions | 10 / 10 | Insiders · Congress | 6 · 5 / 10 |
Wheel Score 70: Good
COLB scores 70 out of 100 on the Wheel Score (Good band, 70-84): it passes all 9 Wheel Trade Filters. How it ranks: value strong, premium fair, moat fair, health good, red flags good, option trading weak, stability good; Option trading (weak) holds it back.
Implied volatility is 27% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 3,926 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 2.5M shares a day on a market cap of $9.1B, with a beta of 0.69 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 35% below fair value | |
| Premium | Fair | implied volatility 27% | |
| Moat | Fair | moat 3.5/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Good | Red Flags score 82/100 | |
| Option trading | Weak | 175 contracts a day, 3,926 open interest | |
| Stability | Good | beta 0.69, $9.1B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 28 Jan 2027, 84 days away - outside the window of a 30-45-day put sold today.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Columbia Banking System, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CBC Central Bancompany | 37.90 | 25.58 | -48% | 29Weak | $9.1B |
| ZIONP Zions Bancorporation, National Association | 16.45 | 68.28 | +76% | 36No options | $9.3B |
| PB Prosperity Bancshares, Inc. | 73.59 | 93.57 | +21% | 44Weak | $8.8B |
| WAL Western Alliance Bancorporation | 79.24 | 141.85 | +44% | 53Fair | $8.6B |
| ZION Zions Bancorporation, National Association | 66.63 | 109.29 | +39% | 81Good | $9.7B |
| ONBPO Old National Bancorp | 25.00 | 43.76 | +43% | 35No options | $9.7B |
| ONBPP Old National Bancorp | 25.37 | 43.99 | +42% | 34No options | $9.8B |
| ONB Old National Bancorp | 25.89 | 44.51 | +42% | 50Fair | $9.8B |
| BPOPM Popular Capital Trust II PFD GTD 6.125% | 25.18 | 97.27 | +74% | 29No options | $9.8B |
| CFR Cullen/Frost Bankers, Inc. | 159.69 | 142.02 | -12% | 30Weak | $9.9B |
| BPOP Popular, Inc. | 158.72 | 213.51 | +26% | 80Good | $10.0B |
| BPOPO Popular, Inc. | 25.28 | 104.50 | +76% | 38No options | $8.1B |
⚖ Compare COLB with 7 of them All Financial Services stocks →
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about COLB
Is COLB undervalued right now?
By the GLS models, yes: at 31.37 the stock is 35% below the average fair value of 48.62 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of COLB and what does it mean?
COLB scores 70 out of 100 (Good). The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for COLB?
48.62 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Columbia Banking System, Inc. report earnings next?
The next earnings report is due on 28 Jan 2027, 84 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does COLB have listed options, and how liquid are they?
Yes. The nightly snapshot found 24 listed contracts with 3,926 open interest across all expiries and implied volatility of 27% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.