Columbia Banking System, Inc. to Issue Quarterly Dividend of $0.30 (NASDAQ:COLB)

Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) declared a quarterly dividend on Tuesday, January 24th, Zacks reports. Investors of record on Monday, February 6th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, February 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, February 3rd.

Columbia Banking System has decreased its dividend payment by an average of 24.6% annually over the last three years. Columbia Banking System has a dividend payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Columbia Banking System to earn $3.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 35.4%.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $29.06 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $2.29 billion, a P/E ratio of 10.23 and a beta of 0.70. The firm’s fifty day moving average is $30.78 and its two-hundred day moving average is $30.77. Columbia Banking System has a 52-week low of $26.97 and a 52-week high of $37.59.

Institutional Investors Weigh In On Columbia Banking System

Several hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $626,000. Balyasny Asset Management LLC raised its stake in shares of Columbia Banking System by 216.2% during the 3rd quarter. Balyasny Asset Management LLC now owns 897,141 shares of the financial services provider’s stock worth $25,918,000 after acquiring an additional 613,402 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Columbia Banking System during the 3rd quarter worth approximately $428,000. BNP Paribas Arbitrage SNC raised its stake in shares of Columbia Banking System by 0.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 37,012 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 337 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Columbia Banking System by 2.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,825 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 362 shares in the last quarter.

Analyst Upgrades and Downgrades

COLB has been the topic of several analyst reports. Royal Bank of Canada cut their price target on shares of Columbia Banking System from $37.00 to $33.00 in a report on Wednesday. StockNews.com assumed coverage on shares of Columbia Banking System in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

Columbia Banking System Company Profile

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Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.