Columbia Banking System, Inc. (COLB) To Go Ex-Dividend on November 29th

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid 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 yield of 4.50%. The ex-dividend date of this dividend is Friday, November 29th.

Columbia Banking System has increased its dividend payment by an average of 7.2% per year over the last three years. Columbia Banking System has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

NASDAQ COLB traded up $0.29 on Wednesday, reaching $32.01. The company had a trading volume of 19,764 shares, compared to its average volume of 2,226,148. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 13.73 and a beta of 0.62. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $32.85. The company’s fifty day moving average is $27.93 and its 200-day moving average is $23.92.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial increased their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. StockNews.com raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Royal Bank of Canada raised their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company 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.