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

Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, May 15th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.37 per share by the financial services provider on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, May 29th.

Columbia Banking System has increased its dividend payment 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% indicating that its dividend is sufficiently covered by earnings. Analysts expect Columbia Banking System to earn $3.40 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 43.5%.

Columbia Banking System Trading Down 1.2%

Shares of NASDAQ COLB opened at $28.77 on Friday. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 11.46 and a beta of 0.63. Columbia Banking System has a 12-month low of $21.91 and a 12-month high of $32.70. The firm’s 50-day moving average price is $28.25 and its 200-day moving average price is $28.55.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a net margin of 19.28% and a return on equity of 11.41%. The firm’s revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities analysts predict that Columbia Banking System will post 3.08 EPS for the current fiscal year.

Insider Activity

In other news, VP Torran B. Nixon sold 2,241 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $63,308.25. Following the transaction, the vice president directly owned 100,469 shares in the company, valued at approximately $2,838,249.25. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,629 shares of company stock worth $158,044 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbia Banking System

Hedge funds and other institutional investors have recently modified their holdings of the business. Quent Capital LLC bought a new position in shares of Columbia Banking System during the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its stake 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 valued at $30,000 after purchasing an additional 794 shares in the last quarter. First Horizon Corp bought a new position in shares of Columbia Banking System during the third quarter valued at approximately $31,000. Cedar Mountain Advisors LLC boosted its stake in shares of Columbia Banking System by 571.7% during the first quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares in the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of Columbia Banking System by 168.8% during the fourth quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 773 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

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.