Columbia Banking System, Inc. (COLB) To Go Ex-Dividend on May 29th

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, May 15th. Stockholders 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) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, May 29th.

Columbia Banking System has raised 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. Equities 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 Trading Up 1.1%

Shares of NASDAQ:COLB opened at $30.07 on Wednesday. The stock has a fifty day simple moving average of $28.60 and a two-hundred day simple moving average of $28.72. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 11.98 and a beta of 0.63. Columbia Banking System has a 12-month low of $21.91 and a 12-month high of $32.70.

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

Insider Buying and Selling at Columbia Banking System

In other news, VP Torran B. Nixon sold 2,241 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $63,308.25. Following the completion of the transaction, the vice president owned 100,469 shares in the company, valued at $2,838,249.25. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 5,629 shares of company stock valued at $158,044 in the last three months. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COLB. AQR Capital Management LLC raised its stake in shares of Columbia Banking System by 35.4% in the first quarter. AQR Capital Management LLC now owns 56,675 shares of the financial services provider’s stock worth $1,402,000 after purchasing an additional 14,824 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Columbia Banking System by 23.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 82,719 shares of the financial services provider’s stock worth $2,063,000 after purchasing an additional 15,845 shares during the last quarter. Millennium Management LLC raised its stake in shares of Columbia Banking System by 572.7% in the first quarter. Millennium Management LLC now owns 484,730 shares of the financial services provider’s stock worth $12,089,000 after purchasing an additional 412,674 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Columbia Banking System by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 492,775 shares of the financial services provider’s stock worth $12,290,000 after purchasing an additional 108,994 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Columbia Banking System by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 887,267 shares of the financial services provider’s stock worth $22,128,000 after purchasing an additional 16,165 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

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.