Columbia Banking System, Inc. (COLB) Announces $0.22 Quarterly Dividend
Columbia Banking System, Inc. (NASDAQ:COLB) announced a quarterly dividend on Friday, October 20th, Wall Street Journal reports. Shareholders of record on Tuesday, October 31st will be given a dividend of 0.22 per share by the financial services provider on Tuesday, November 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, October 30th.
Columbia Banking System (NASDAQ:COLB) traded up 1.51% during mid-day trading on Friday, reaching $42.48. The company’s stock had a trading volume of 349,628 shares. The stock has a market cap of $2.48 billion, a PE ratio of 21.57 and a beta of 1.26. Columbia Banking System has a 52-week low of $31.75 and a 52-week high of $45.68. The company has a 50 day moving average of $39.97 and a 200-day moving average of $39.12.
Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $110.30 million for the quarter, compared to analyst estimates of $112.27 million. Columbia Banking System had a return on equity of 8.99% and a net margin of 25.82%. During the same period last year, the firm earned $0.44 EPS. Equities analysts forecast that Columbia Banking System will post $2.04 earnings per share for the current year.
COLB has been the topic of a number of recent analyst reports. Zacks Investment Research raised Columbia Banking System from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, September 27th. DA Davidson reissued a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of Columbia Banking System in a research report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and set a $42.00 price target on shares of Columbia Banking System in a research report on Friday, September 8th. Piper Jaffray Companies raised Columbia Banking System from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $46.00 in a research report on Monday, July 31st. Finally, BidaskClub downgraded Columbia Banking System from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.00.
Columbia Banking System Company Profile
Columbia Banking System, Inc (Columbia) is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals. It offers products and services, which include Personal Banking, Business Banking and Wealth Management.
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