Columbia Banking System, Inc. (NASDAQ:COLB) Declares Quarterly Dividend of $0.36

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.36 per share by the financial services provider on Monday, December 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Friday, November 29th.

Columbia Banking System has increased its dividend by an average of 7.2% annually over the last three years. Columbia Banking System has a dividend payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbia Banking System to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.9%.

Columbia Banking System Stock Up 1.1 %

Shares of COLB stock traded up $0.34 on Wednesday, hitting $32.06. The stock had a trading volume of 78,185 shares, compared to its average volume of 2,226,256. Columbia Banking System has a one year low of $17.08 and a one year high of $32.85. The business has a 50 day moving average price of $27.93 and a 200 day moving average price of $23.92. The company has a market cap of $6.72 billion, a PE ratio of 13.73 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same quarter in the previous year, the business posted $0.79 EPS. Equities research analysts expect that Columbia Banking System will post 2.63 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on COLB shares. Wells Fargo & Company increased their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Truist Financial increased their price objective on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a report on Monday, October 28th. StockNews.com upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. JPMorgan Chase & Co. decreased their price target on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Wedbush boosted their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.12.

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.