According to Zacks, Columbia Banking System, Inc. (NASDAQ: COLB) disclosed information about the quarterly dividend payment on Wednesday, October 5, when it announced the payment. As a result, investors who were the record holders of the company’s shares as of the previous Monday, October 17, will be eligible to receive a dividend payment from the financial services provider for $0.30 per share on Friday, October 28. This equates to a dividend payout of $1.20 per share and a dividend yield of 3.98% when calculated annually. The date on which shareholders will no longer receive dividends is this Friday, October 14.
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The dividend distributed by Columbia Banking System over the past three years has increased on an annualized average of 15.1% per year. As a result, Columbia Banking System’s payout ratio is 34.0%, demonstrating that earnings adequately support the company-distributed dividends it generates. Additionally, according to industry experts, Columbia Banking System will earn $3.52 per share in the next fiscal year. This would lead to a future payout ratio of 34.1%, allowing the company to meet its annual dividend payment of $1.20 and achieve positive cash flow.
On Friday morning, the price of a COLB share was $30.17 when trading began. The company’s market value is $2.37 billion, the stock’s price-earnings ratio is 10.85, and the beta coefficient is 0.63. The company’s last 50-day moving averages are $30.41 and the last 200-day moving averages are $30.04. Columbia Banking System’s stock price currently sits at $26.97, which is both the lowest and highest 1-year stock price in the past twelve months.
On July 21, the latest quarterly earnings report from Columbia Banking System (NASDAQ: COLB) was released to the public and presented to the investment community. The financial services company reported earnings per share for the quarter of $0.79, $0.02 higher than analysts had expected. Columbia’s banking system had a return on equity of 9.68% and a net margin of 31.28% when the numbers were tallied. Revenue for the quarter was $172.46 million, significantly lower than the average projection of $177.77 million, which was made for the quarter. In the same period as the previous year, the company earned $0.77 per common share. This year, sell-side analysts at Columbia Banking System believe the company will earn $2.8 per share.
In a research note published Thursday, July 7, Raymond James downgraded Columbia Banking System from “outperforming” to “neutral” in a research note. They also lowered their price target on the stock from $38.00 to $34.00. Two of the recommendations made by investment professionals for this stock were to buy it, while four were to hold it. The company received an average rating of “Hold” and the consensus price target for the company is currently $34.80, according to the Bloomberg.com website.
In recent months, institutional investors have adjusted the total number of stocks held in their investment portfolios. Raymond James Financial Services Advisors, Inc. invested approximately $480,000 in Columbia Banking System in the first three months to bolster its existing holdings in the company. PNC Financial Services Group Inc. increased the amount of Columbia Banking System shares held by 26.7% in the first three months of 2018. PNC Financial Services Group Inc. now owns 5,310 shares held by the financial services provider, which has a value of $171,000 thanks to the fact that the company made purchases during the relevant period totaling 5,310 shares. This has now taken place after buying an additional 1,120 shares earlier in the day. During the first three months of the year, the percentage of Columbia Banking System shares held by Bank of Montreal increased by 2.7%. The Bank of Montreal can now hold 23,253 shares of the company, which has a market value of $790,000 thanks to the acquisition of 620 additional shares during the previous quarter. MetLife Investment Management LLC increased its stake in Columbia Banking System by 56.3% in the first three months of 2018. After purchasing an additional 15,237 shares during the reporting period, MetLife Investment Management LLC now holds a total of 42 283 shares of the financial services provider. , giving the portfolio a value of $1,364,000. This brings the total number of shares held by the company to date to 42,283. And finally, in the first three months of the year, Rhumbline Advisers increased the number of Columbia Banking System shares in its portfolio by 3 .4% extra. Rhumbline Advisers now owns 232,909 shares held by the financial services provider after acquiring an additional 7,638 shares in the last quarter. The stock is currently valued at $7,516,000. The shares of the company are held by institutional investors, who hold 94.45% of the total voting rights.
Columbia State Bank is a United States-based financial institution. It is a subsidiary of Columbia Banking System, Inc., which is the parent company name of Columbia State Bank. Columbia State Bank offers a wide range of banking services to individuals, professionals and small and medium businesses throughout the United States. It offers debit and credit cards, online banking; interest-bearing and non-interest-bearing chequing, savings, money market and certificate of deposit accounts; residential mortgages for acquisitions and refinances; home equity loans and lines of credit; and other personal loans. Also, it helps people get mortgages to buy homes and refinance mortgages they already have.