Columbia Banking System, Inc. (NASDAQ:COLB) Plans Quarterly Dividend of $0.38

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, November 13th. Shareholders of record on Friday, November 27th will be given a dividend of $0.38 per share by the financial services provider on Monday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, November 27th. This is a 2.7% increase from Columbia Banking System’s previous quarterly dividend of $0.37.

Columbia Banking System has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Banking System to earn $3.33 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 44.4%.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock traded up $0.01 during trading on Friday, reaching $30.60. 4,311,639 shares of the company’s stock were exchanged, compared to its average volume of 2,879,677. Columbia Banking System has a 1-year low of $25.51 and a 1-year high of $33.67. The company has a market cap of $8.46 billion, a P/E ratio of 10.59, a PEG ratio of 0.84 and a beta of 0.72. The firm’s 50-day moving average price is $29.73 and its 200 day moving average price is $29.96.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Columbia Banking System had a net margin of 22.83% and a return on equity of 11.93%. The firm had revenue of $702.00 million for the quarter, compared to analyst estimates of $687.74 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, equities research analysts predict that Columbia Banking System will post 3.08 EPS for the current year.

About Columbia Banking System

Columbia Banking System is a bank holding company whose principal subsidiary, Umpqua Bank, provides commercial and consumer banking services. Its offerings include deposit accounts, business and personal lending, cash management, and other financial services for individuals, small businesses, and larger commercial clients. The company serves customers across the western United States, including the Pacific Northwest and California. Its banking operations use the Umpqua Bank name. Columbia Banking System was formed through the 2023 merger of Columbia Bank and Umpqua Bank’s parent company, Umpqua Holdings Corporation.