Columbia Banking System, Inc. (NASDAQ: COLB) declared a dividend on Friday, October 1, invest.com reports. Investors of record on Tuesday October 12 will receive a dividend of 0.30 per share from the financial services provider on Wednesday October 27. This represents a dividend yield of 3.11%. The ex-dividend date is Monday October 11.
Columbia Banking System has increased its dividend by 27.3% over the past three years and has increased its dividend annually for the past 12 years. Columbia Banking System has a dividend payout rate of 40.9%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Columbia Banking System to earn $ 2.60 per share next year, which means the company should continue to be able to cover its annual dividend of $ 1.12 with a rate of. expected future distribution of 43.1%.
Columbia Banking System shares opened at $ 37.99 on Friday. The company’s fifty-day simple moving average is $ 35.72 and its two-hundred-day simple moving average is $ 39.66. Columbia Banking System has a 12-month low of $ 23.38 and a 12-month high of $ 50.68. The company has a market cap of $ 2.73 billion, a P / E ratio of 12.88 and a beta of 0.90.
Columbia Banking System (NASDAQ: COLB) last released its quarterly earnings data on Wednesday, July 28. The financial services provider reported EPS of $ 0.78 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.66 of $ 0.12. Columbia Banking System had a net margin of 34.64% and a return on equity of 9.07%. The company posted revenue of $ 146.21 million in the quarter, compared to analysts’ estimates of $ 145.35 million. As a group, sell-side analysts expect Columbia Banking System to post EPS of 2.75 for the current fiscal year.
A hedge fund recently increased its stake in shares of Columbia Banking System. Morgan Stanley increased its stake in Columbia Banking System, Inc. (NASDAQ: COLB) shares by 18.2% in the second quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 406,883 shares of the financial services provider after acquiring an additional 62,511 shares during the quarter. Morgan Stanley owned approximately 0.57% of Columbia Banking System valued at $ 15,689,000 at the time of its last filing with the SEC. Institutional investors hold 90.17% of the shares of the company.
Several brokerages have commented on COLB. Royal Bank of Canada lowered its price target on Columbia Banking System from $ 47.00 to $ 44.00 and set a “sector performance” rating for the company in a research report released on Friday, June 25. Zacks investment research raised Columbia Banking System shares from a “hold” rating to a “buy” rating and set a target price of $ 40.00 for the company in a research note on Wednesday, August 4. Four research analysts rated the stock with a conservation rating and one assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $ 43.50.
Columbia Banking System Company Profile
Columbia Banking System, Inc. is a banking holding company that provides financial services. She specializes in the management of individuals, businesses and assets. It offers checking and savings accounts; debit and credit cards; digital bank; personal loans; real estate loans; foreign currency; professional bank; finance management; merchant card services; international bank; financial services; private banking; and trust and investment services.
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