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.
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.
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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