Columbia Banking System (NASDAQ:COLB – Get Free Report) issued its earnings results on Thursday. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10, Briefing.com reports. Columbia Banking System had a net margin of 16.52% and a return on equity of 11.58%. The business had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. During the same period last year, the business posted $0.81 EPS. Columbia Banking System’s revenue was down 9.8% on a year-over-year basis.
Columbia Banking System Stock Performance
Columbia Banking System stock traded up $2.80 during midday trading on Friday, reaching $26.99. 5,077,370 shares of the stock were exchanged, compared to its average volume of 2,546,200. The company’s fifty day moving average is $20.14 and its 200-day moving average is $19.88. The firm 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 52 week low of $17.08 and a 52 week high of $28.11.
Columbia Banking System Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 24th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date was Thursday, May 23rd. Columbia Banking System’s payout ratio is currently 61.80%.
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About Columbia Banking System
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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