Columbia Banking System, Inc. (NASDAQ:COLB) to Issue Quarterly Dividend of $0.36

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 Tuesday, August 19th, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.36 per share by the financial services provider on Monday, September 15th. This represents a c) dividend on an annualized basis 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% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of COLB stock traded down $0.20 during trading hours on Wednesday, reaching $25.61. 1,918,843 shares of the company were exchanged, compared to its average volume of 1,969,144. Columbia Banking System has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The stock's fifty day moving average is $24.14 and its two-hundred day moving average is $24.34. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 10.16 and a beta of 0.62.

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

Institutional Investors Weigh In On Columbia Banking System

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its position in shares of Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock worth $30,000 after acquiring an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Columbia Banking System during the first quarter worth $37,000. UMB Bank n.a. increased its position in shares of Columbia Banking System by 141.3% during the first quarter. UMB Bank n.a. now owns 1,636 shares of the financial services provider's stock worth $41,000 after acquiring an additional 958 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Columbia Banking System during the fourth quarter worth $42,000. Finally, Bessemer Group Inc. increased its position in shares of Columbia Banking System by 53.5% during the second quarter. Bessemer Group Inc. now owns 1,790 shares of the financial services provider's stock worth $42,000 after acquiring an additional 624 shares in the last quarter. 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.