Columbia Banking System, Inc. (NASDAQ:COLB) Declares $0.36 Quarterly Dividend

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, February 14th, RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.36 per share by the financial services provider on Monday, March 17th. This represents a $1.44 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Friday, February 28th.

Columbia Banking System has raised its dividend payment by an average of 8.1% per year over the last three years. Columbia Banking System has a payout ratio of 50.3% 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 $1.44 annual dividend with an expected future payout ratio of 49.8%.

Columbia Banking System Trading Up 1.0 %

Shares of COLB stock opened at $26.60 on Wednesday. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 10.47 and a beta of 0.66. The business’s 50-day moving average price is $27.52 and its 200-day moving average price is $27.36. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. On average, sell-side analysts predict that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COLB has been the topic of several analyst reports. UBS Group assumed coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price target on Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, January 24th. Citigroup lowered their price objective on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Barclays upped their target price on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Stephens decreased their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.38.

About Columbia Banking System

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.