Columbia Banking System (NASDAQ:COLB – Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10, Briefing.com reports. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.95%. The business had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. During the same period last year, the firm earned $0.81 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis.
Columbia Banking System Price Performance
Shares of Columbia Banking System stock traded up $2.80 during trading on Friday, hitting $26.99. The stock had a trading volume of 5,077,370 shares, compared to its average volume of 2,308,208. The firm’s fifty day simple moving average is $20.14 and its 200-day simple moving average is $19.88. The stock has a market cap of $5.65 billion, a PE ratio of 11.58 and a beta of 0.66. Columbia Banking System has a 12 month low of $17.08 and a 12 month high of $28.11.
Columbia Banking System Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.34%. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.80%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on Columbia Banking System
Columbia Banking System Company Profile
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.
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