Columbia Banking System, Inc. (COLB) To Go Ex-Dividend on November 29th

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.36 per share by the financial services provider on Monday, December 16th. This represents a $1.44 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Friday, November 29th.

Columbia Banking System has raised its dividend by an average of 7.2% annually over the last three years. Columbia Banking System has a dividend payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Columbia Banking System to earn $2.72 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 52.9%.

Columbia Banking System Stock Up 1.1 %

NASDAQ COLB traded up $0.34 on Wednesday, reaching $32.06. The company had a trading volume of 78,185 shares, compared to its average volume of 2,226,256. The stock has a market capitalization of $6.72 billion, a PE ratio of 13.73 and a beta of 0.62. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $32.85. The firm’s 50 day moving average price is $27.93 and its 200 day moving average price is $23.92.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million during the quarter, compared to analyst estimates of $478.80 million. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. During the same quarter last year, the business posted $0.79 earnings per share. On average, research analysts expect that Columbia Banking System will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Royal Bank of Canada boosted their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Raymond James upped their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Columbia Banking System has an average rating of “Hold” and an average target price of $27.12.

Columbia Banking System Company Profile

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.