Columbia Banking System (NASDAQ:COLB) announced its quarterly earnings results on Thursday. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01, Briefing.com reports. Columbia Banking System had a net margin of 31.01% and a return on equity of 9.14%. The firm had revenue of $146.62 million during the quarter, compared to analysts’ expectations of $146.00 million. During the same quarter in the prior year, the company earned $0.62 EPS.
Shares of COLB opened at $40.10 on Friday. The company has a 50 day moving average price of $40.04 and a 200-day moving average price of $37.67. Columbia Banking System has a fifty-two week low of $30.65 and a fifty-two week high of $41.40. The stock has a market capitalization of $2.89 billion, a PE ratio of 14.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.83 and a current ratio of 0.83.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.12 annualized dividend and a dividend yield of 2.79%. Columbia Banking System’s payout ratio is presently 41.79%.
In related news, EVP David C. Lawson sold 1,164 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $39.95, for a total transaction of $46,501.80. Following the completion of the sale, the executive vice president now owns 16,544 shares of the company’s stock, valued at $660,932.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by corporate insiders.
About Columbia Banking System
Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in Washington, Oregon, and Idaho. It offers personal banking products and services, including noninterest and interest-bearing checking, saving, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and personal loans; debit and credit cards; and digital banking services.
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