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

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Tuesday, November 19th,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 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, November 29th.

Columbia Banking System has raised its dividend 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. Equities research analysts expect Columbia Banking System to earn $2.71 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 53.1%.

Columbia Banking System Trading Down 1.3 %

Shares of Columbia Banking System stock traded down $0.41 on Tuesday, reaching $30.14. 777,300 shares of the stock were exchanged, compared to its average volume of 2,251,466. Columbia Banking System has a 1-year low of $17.08 and a 1-year high of $31.86. The business has a fifty day moving average price of $27.24 and a two-hundred day moving average price of $23.55. The firm has a market capitalization of $6.32 billion, a PE ratio of 13.11 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (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 firm had revenue of $765.06 million for the quarter, compared to analyst estimates of $478.80 million. During the same quarter last year, the business earned $0.79 earnings per share. Research analysts expect that Columbia Banking System will post 2.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on COLB shares. Wells Fargo & Company increased their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wedbush raised their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stephens raised their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Truist Financial raised their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and an average target price 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.