Columbia Banking System Inc (NASDAQ:COLB) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Stockholders of record on Wednesday, August 7th will be given a dividend of 0.28 per share by the financial services provider on Wednesday, August 21st. This represents a $1.12 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, August 6th.
Columbia Banking System has increased its dividend by an average of 12.6% annually over the last three years and has increased its dividend every year for the last 8 years. Columbia Banking System has a payout ratio of 44.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Banking System to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 42.7%.
Shares of COLB stock opened at $35.67 on Friday. The firm has a market cap of $2.66 billion, a PE ratio of 14.44, a PEG ratio of 2.03 and a beta of 1.07. Columbia Banking System has a 52-week low of $30.65 and a 52-week high of $43.60. The firm has a 50-day moving average of $36.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86.
Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08. The firm had revenue of $150.76 million for the quarter, compared to analysts’ expectations of $147.22 million. Columbia Banking System had a return on equity of 9.20% and a net margin of 30.92%. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, equities research analysts predict that Columbia Banking System will post 2.55 earnings per share for the current year.
In other Columbia Banking System news, EVP Andy Mcdonald sold 3,481 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total transaction of $122,043.86. Following the transaction, the executive vice president now owns 36,264 shares in the company, valued at approximately $1,271,415.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.
Several equities analysts recently issued reports on COLB shares. Zacks Investment Research upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. BidaskClub cut Columbia Banking System from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. ValuEngine upgraded Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada set a $38.00 price target on Columbia Banking System and gave the company a “hold” rating in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.71.
About Columbia Banking System
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.
Featured Article: What does it mean to hold a stock in street name?
Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.