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

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, May 15th. Investors 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 is Friday, May 29th.

Columbia Banking System has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 4 years. Columbia Banking System has a dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. 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. 3,183,222 shares of the company’s stock traded hands, compared to its average volume of 2,885,211. The company has a market cap of $8.33 billion, a PE ratio of 11.46 and a beta of 0.63. The firm’s fifty day moving average price is $28.25 and its two-hundred day moving average price is $28.55. Columbia Banking System has a twelve month low of $21.91 and a twelve month high of $32.70.

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