Columbia Banking System, Inc. (COLB) to Issue Quarterly Dividend of $0.37 on March 16th

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, February 13th. Stockholders of record on Friday, February 27th will be given a dividend of 0.37 per share by the financial services provider on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, February 27th.

Columbia Banking System has raised 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 $2.89 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 51.2%.

Columbia Banking System Price Performance

COLB stock opened at $29.86 on Wednesday. The company has a 50 day moving average price of $29.61 and a 200 day moving average price of $27.64. Columbia Banking System has a fifty-two week low of $19.61 and a fifty-two week high of $32.70. The stock has a market capitalization of $8.93 billion, a PE ratio of 13.21 and a beta of 0.61.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a return on equity of 11.40% and a net margin of 17.11%.During the same period last year, the company earned $0.71 EPS. As a group, equities analysts expect that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COLB. TD Cowen reiterated a “hold” rating on shares of Columbia Banking System in a report on Wednesday, January 7th. Citigroup upped their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday. Stephens raised their target price on shares of Columbia Banking System from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. boosted their price target on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Finally, Piper Sandler increased their price objective on shares of Columbia Banking System from $34.50 to $36.00 and gave the company an “overweight” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

Columbia Banking System Company Profile

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.