Columbia Banking System, Inc. (COLB) to Issue Quarterly Dividend of $0.37 on June 15th

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, May 15th. Shareholders of record on Friday, May 29th will be paid 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 yield of 5.1%. The ex-dividend date is Friday, May 29th.

Columbia Banking System has raised its dividend payment by an average of 0.0%annually 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 $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 Price Performance

Shares of NASDAQ:COLB opened at $28.77 on Friday. The business’s fifty day moving average price is $28.25 and its two-hundred day moving average price is $28.55. Columbia Banking System has a fifty-two week low of $21.91 and a fifty-two week high of $32.70. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 11.46 and a beta of 0.63.

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