Columbia Banking System (NASDAQ:COLB – Get Free Report) announced its earnings results on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10, Briefing.com reports. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The business had revenue of $472.15 million during the quarter, compared to analyst estimates of $476.01 million. During the same period in the previous year, the business earned $0.81 EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year.
Columbia Banking System Trading Up 11.6 %
COLB stock traded up $2.80 during trading hours on Friday, hitting $26.99. 5,077,370 shares of the stock were exchanged, compared to its average volume of 2,546,200. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11. The firm has a market capitalization of $5.65 billion, a P/E ratio of 11.58 and a beta of 0.66. The company has a 50-day simple moving average of $20.14 and a two-hundred day simple moving average of $19.88.
Columbia Banking System Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Thursday, May 23rd. Columbia Banking System’s dividend payout ratio is 61.80%.
Analysts Set New Price Targets
View Our Latest Analysis on COLB
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.
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