Columbia Banking System (NASDAQ:COLB – Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10, Briefing.com reports. The company had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. Columbia Banking System’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share.
Columbia Banking System Stock Performance
NASDAQ COLB traded up $2.80 on Friday, reaching $26.99. 5,077,370 shares of the company’s stock traded hands, compared to its average volume of 2,546,200. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 11.27 and a beta of 0.66. The stock has a 50 day moving average price of $20.01 and a 200-day moving average price of $19.87. Columbia Banking System has a fifty-two week low of $17.08 and a fifty-two week high of $28.11.
Columbia Banking System Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 5.34%. Columbia Banking System’s dividend payout ratio is presently 61.80%.
Wall Street Analyst Weigh In
View Our Latest Report on COLB
Columbia Banking System Company Profile
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.
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