Columbia Banking System, Inc. (NASDAQ:COLB) Announces $0.36 Quarterly Dividend

Key Points

• Columbia Banking System, Inc. declared a quarterly dividend of $0.36 per share, with an annualized yield of 5.6%, for stockholders of record on August 29th, payable on September 15th.
• The company reported earnings per share (EPS) of $0.76 for the last quarter, exceeding analyst expectations by $0.10, while revenue reached $511.55 million.
• Columbia Banking System has a dividend payout ratio of 47.1% and is expected to maintain a healthy future payout ratio of 49.8% based on projected earnings.

Columbia Banking System, Inc. (NASDAQ:COLB - Get Free Report) declared a quarterly dividend on Friday, August 15th, RTT News reports. Shareholders of record on Friday, August 29th will be given a dividend of 0.36 per share by the financial services provider on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, August 29th.

Columbia Banking System has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbia Banking System to earn $2.89 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 49.8%.

Columbia Banking System Trading Up 0.5%

Shares of Columbia Banking System stock traded up $0.13 on Monday, reaching $25.77. 1,835,886 shares of the company were exchanged, compared to its average volume of 2,610,474. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 10.23 and a beta of 0.62. Columbia Banking System has a one year low of $19.61 and a one year high of $32.85. The company has a 50-day moving average of $24.11 and a 200 day moving average of $24.33.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.10. The firm had revenue of $511.55 million for the quarter, compared to analyst estimates of $492.00 million. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. Analysts predict that Columbia Banking System will post 2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in COLB. Mariner LLC grew its stake in shares of Columbia Banking System by 17.0% in the fourth quarter. Mariner LLC now owns 27,221 shares of the financial services provider's stock valued at $735,000 after acquiring an additional 3,950 shares in the last quarter. Guggenheim Capital LLC raised its stake in Columbia Banking System by 3.5% in the 4th quarter. Guggenheim Capital LLC now owns 30,223 shares of the financial services provider's stock worth $816,000 after purchasing an additional 1,029 shares in the last quarter. Jump Financial LLC bought a new stake in Columbia Banking System in the 4th quarter valued at about $797,000. Marshall Wace LLP acquired a new position in shares of Columbia Banking System during the 4th quarter worth approximately $312,000. Finally, Forum Financial Management LP bought a new position in shares of Columbia Banking System during the fourth quarter worth approximately $208,000. Institutional investors own 92.53% of the company's stock.

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.