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

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Monday, May 13th, Zacks reports. Stockholders of record on Friday, May 24th will be given a dividend of 0.36 per share by the financial services provider on Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.16%. The ex-dividend date of this dividend is Thursday, May 23rd.

Columbia Banking System has raised its dividend by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 3 years. Columbia Banking System has a payout ratio of 55.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Columbia Banking System to earn $2.63 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 54.8%.

Columbia Banking System Stock Up 0.2 %

Shares of NASDAQ COLB opened at $20.11 on Wednesday. The firm has a market cap of $4.21 billion, a PE ratio of 8.63 and a beta of 0.69. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $28.11. The company’s fifty day simple moving average is $19.01 and its 200 day simple moving average is $21.20.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The firm had revenue of $473.72 million for the quarter, compared to analyst estimates of $480.39 million. During the same period last year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Columbia Banking System will post 2.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on COLB. Truist Financial dropped their price objective on shares of Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Wells Fargo & Company lowered their target price on shares of Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Citigroup lowered their target price on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. DA Davidson lowered their target price on shares of Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Finally, TheStreet downgraded shares of Columbia Banking System from a “b-” rating to a “c+” rating in a report on Thursday, February 22nd. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.19.

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.