Columbia Banking System, Inc. to Issue Quarterly Dividend of $0.37 (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, February 13th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.37 per share by the financial services provider on Monday, March 16th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, February 27th.

Columbia Banking System has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Columbia Banking System has a 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 traded up $0.24 during mid-day trading on Friday, hitting $31.49. The stock had a trading volume of 3,291,514 shares, compared to its average volume of 2,825,734. The stock’s fifty day simple moving average is $29.24 and its 200-day simple moving average is $27.20. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 13.93 and a beta of 0.61. Columbia Banking System has a 1-year low of $19.61 and a 1-year high of $32.70.

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