Columbia Banking System, Inc. (COLB) to Distribute Quarterly Dividend of $0.37 on September 14th

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, August 14th. Shareholders of record on Friday, August 28th will be given a dividend of 0.37 per share by the financial services provider on Monday, September 14th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 28th.

Columbia Banking System has increased its dividend 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 dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Columbia Banking System to earn $3.26 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 45.4%.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $32.69 on Friday. The business has a 50 day simple moving average of $31.61 and a two-hundred day simple moving average of $29.97. Columbia Banking System has a 12 month low of $23.83 and a 12 month high of $33.67. The stock has a market capitalization of $9.25 billion, a P/E ratio of 13.02, a PEG ratio of 3.24 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same quarter last year, the business posted $0.76 earnings per share. As a group, research analysts anticipate that Columbia Banking System will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on COLB. Zacks Research lowered Columbia Banking System from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Piper Sandler raised their price target on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Fundamental Research set a $35.00 price target on shares of Columbia Banking System in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company increased their price objective on shares of Columbia Banking System from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Columbia Banking System currently has an average rating of “Hold” and an average target price of $33.35.

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.