Columbia Banking System Inc (COLB) Announces Quarterly Dividend of $0.28

Columbia Banking System Inc (NASDAQ:COLB) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 0.28 per share by the financial services provider on Wednesday, May 22nd. This represents a $1.12 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Tuesday, May 7th.

Columbia Banking System has increased its dividend payment by an average of 12.6% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Columbia Banking System has a dividend payout ratio of 44.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Banking System to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 42.1%.

Shares of NASDAQ:COLB opened at $36.05 on Friday. The company has a market cap of $2.63 billion, a PE ratio of 14.60, a P/E/G ratio of 1.96 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. Columbia Banking System has a twelve month low of $30.65 and a twelve month high of $44.73.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Columbia Banking System had a net margin of 29.54% and a return on equity of 9.01%. The business had revenue of $142.72 million during the quarter, compared to the consensus estimate of $147.05 million. During the same quarter in the previous year, the firm earned $0.55 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Columbia Banking System will post 2.53 EPS for the current year.

In other Columbia Banking System news, COO Clint Stein sold 657 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $38.32, for a total transaction of $25,176.24. Following the completion of the transaction, the chief operating officer now owns 24,644 shares in the company, valued at approximately $944,358.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.92% of the stock is currently owned by corporate insiders.

Several analysts recently commented on COLB shares. Zacks Investment Research downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. BidaskClub downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. DA Davidson downgraded shares of Columbia Banking System from a “buy” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $38.00 in a research report on Monday, March 18th. Stephens began coverage on shares of Columbia Banking System in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $39.00 price target for the company. Finally, ValuEngine downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $42.33.

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Columbia Banking System Company Profile

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. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Dividend History for Columbia Banking System (NASDAQ:COLB)

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