Columbia Banking System, Inc. Declares Quarterly Dividend of $0.37 (NASDAQ:COLB)

Key Points

• Columbia Banking System declared a quarterly dividend of $0.37 per share, payable September 14 to shareholders of record on August 28. The dividend implies an annualized payout of $1.48 and a 4.5% yield.
• The dividend appears supported by earnings, with a current payout ratio of 48.4% and an expected forward payout ratio of 45.4%. The company has raised its dividend for four consecutive years.
• Columbia reported quarterly EPS of $0.76, exceeding analyst estimates of $0.73, although revenue of $677 million fell short of the $687.4 million consensus forecast.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) declared a quarterly dividend on Friday, August 14th. Stockholders 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) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, August 28th.

Columbia Banking System has increased its dividend 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% 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 Stock Performance

Shares of COLB stock traded up $0.25 on Friday, reaching $32.69. The stock had a trading volume of 2,467,909 shares, compared to its average volume of 2,896,754. Columbia Banking System has a 1 year low of $23.83 and a 1 year high of $33.67. The stock has a market cap of $9.25 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 3.19 and a beta of 0.63. The company has a 50 day simple moving average of $31.55 and a 200 day simple moving average of $29.95.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The company had revenue of $677.00 million during the quarter, compared to analysts' expectations of $687.40 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. On average, equities research analysts anticipate that Columbia Banking System will post 3.03 earnings per share 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.

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