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

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.36 per share by the financial services provider on Monday, March 17th. This represents a $1.44 dividend on an annualized basis and a yield of 5.16%.

Columbia Banking System has raised its dividend payment by an average of 8.1% per year over the last three years. Columbia Banking System has a payout ratio of 50.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Banking System to earn $2.88 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 50.0%.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $27.93 on Friday. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 10.99 and a beta of 0.66. The business’s 50 day moving average price is $27.92 and its 200-day moving average price is $27.17. Columbia Banking System has a 1 year low of $17.08 and a 1 year high of $32.85.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. On average, sell-side analysts expect that Columbia Banking System will post 2.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COLB has been the topic of a number of research reports. Citigroup decreased their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays boosted their price objective on Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Royal Bank of Canada raised their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.38.

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.