Columbia Banking System Inc (NASDAQ:COLB) to Issue Quarterly Dividend of $0.28

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Columbia Banking System Inc (NASDAQ:COLB) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Wednesday, November 6th will be paid a dividend of 0.28 per share by the financial services provider on Wednesday, November 20th. This represents a $1.12 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Tuesday, November 5th.

Shares of COLB opened at $39.96 on Friday. Columbia Banking System has a 52 week low of $30.65 and a 52 week high of $41.05. The company’s 50 day moving average price is $37.17 and its 200 day moving average price is $35.91. The company has a market capitalization of $2.87 billion, a PE ratio of 16.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.83 and a current ratio of 0.83.

Columbia Banking System (NASDAQ:COLB) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.09. Columbia Banking System had a net margin of 31.02% and a return on equity of 9.21%. The business had revenue of $150.48 million for the quarter, compared to analyst estimates of $146.70 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that Columbia Banking System will post 2.6 earnings per share for the current fiscal year.

In other Columbia Banking System news, EVP David C. Lawson sold 1,164 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $39.95, for a total value of $46,501.80. Following the sale, the executive vice president now owns 16,544 shares of the company’s stock, valued at approximately $660,932.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Stephens reaffirmed a “hold” rating and set a $38.00 target price on shares of Columbia Banking System in a research report on Thursday, October 24th. Royal Bank of Canada set a $40.00 target price on shares of Columbia Banking System and gave the stock a “hold” rating in a research report on Friday, October 25th. BidaskClub raised shares of Columbia Banking System from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Zacks Investment Research lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, ValuEngine raised shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Columbia Banking System has a consensus rating of “Hold” and an average price target of $40.80.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.

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Dividend History for Columbia Banking System (NASDAQ:COLB)

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