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

Columbia Banking System, Inc. (NASDAQ:COLB) declared a quarterly dividend on Friday, August 14th. Shareholders of record on Friday, August 28th will be paid a dividend of 0.37 per share by the financial services provider on Monday, September 14th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 28th.

Columbia Banking System has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 4 years. Columbia Banking System has a dividend payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Equities 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 NASDAQ COLB opened at $32.69 on Friday. The firm’s 50 day moving average price is $31.61 and its 200-day moving average price is $29.97. Columbia Banking System has a 52-week low of $23.83 and a 52-week high of $33.67. The company has a market cap of $9.25 billion, a PE ratio of 13.02, a P/E/G ratio of 3.21 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $687.40 million. During the same period last year, the company earned $0.76 EPS. On average, analysts forecast that Columbia Banking System will post 3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Columbia Banking System

In related news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the transaction, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at $554,793.72. This represents a 17.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Columbia Banking System

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Columbia Banking System in the 2nd quarter valued at $880,443,000. Wellington Management Group LLP boosted its stake in Columbia Banking System by 135.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,782,222 shares of the financial services provider’s stock worth $354,754,000 after purchasing an additional 7,921,303 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Columbia Banking System by 140.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,666,769 shares of the financial services provider’s stock valued at $242,237,000 after acquiring an additional 5,063,212 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Columbia Banking System in the second quarter valued at approximately $120,867,000. Finally, Norges Bank acquired a new stake in shares of Columbia Banking System in the 4th quarter worth $103,012,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.