Columbia Banking System, Inc. (NASDAQ:COLB) to Issue $0.37 Quarterly Dividend

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, May 15th. Stockholders of record on Friday, May 29th will be given a dividend of 0.37 per share by the financial services provider on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, May 29th.

Columbia Banking System has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 4 years. Columbia Banking System has a dividend payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Banking System to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 43.5%.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB traded down $0.35 during midday trading on Friday, hitting $28.77. The company’s stock had a trading volume of 3,183,222 shares, compared to its average volume of 2,885,211. Columbia Banking System has a 1-year low of $21.91 and a 1-year high of $32.70. The firm’s fifty day moving average price is $28.25 and its 200-day moving average price is $28.55. The firm has a market cap of $8.33 billion, a P/E ratio of 11.46 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $677.34 million. During the same period in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 37.9% on a year-over-year basis. As a group, research analysts predict that Columbia Banking System will post 3.08 earnings per share for the current fiscal year.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.