Columbia Banking System (COLB) Declares $0.36 Dividend
Columbia Banking System said on May 15, 2023 that its board of directors declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of May 30, 2023 to qualify for the dividend. Shareholders of record as of May 31, 2023 will receive the payment on June 15, 2023.
At the current share price of $20.25 / share, the stock's dividend yield is 7.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.81%, the lowest has been 2.37%, and the highest has been 6.70%. The standard deviation of yields is 1.01 (n=237).
The current dividend yield is 3.28 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.15%.
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What is the Fund Sentiment?
There are 726 funds or institutions reporting positions in Columbia Banking System. This is an increase of 137 owner(s) or 23.26% in the last quarter. Average portfolio weight of all funds dedicated to COLB is 0.18%, a decrease of 8.53%. Total shares owned by institutions increased in the last three months by 60.71% to 167,840K shares. 
The put/call ratio of COLB is 0.65, indicating a bullish outlook.
Analyst Price Forecast Suggests 37.26% Upside
As of May 11, 2023, the average one-year price target for Columbia Banking System is 27.80. The forecasts range from a low of 21.72 to a high of $33.60. The average price target represents an increase of 37.26% from its latest reported closing price of 20.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Columbia Banking System is 2,255MM, an increase of 87.06%. The projected annual non-GAAP EPS is 3.57.
What are Other Shareholders Doing?
Macquarie Group holds 8,095K shares representing 3.88% ownership of the company. In it's prior filing, the firm reported owning 215K shares, representing an increase of 97.35%. The firm increased its portfolio allocation in COLB by 2,388.45% over the last quarter.
Massachusetts Financial Services holds 6,956K shares representing 3.34% ownership of the company.
T. Rowe Price Investment Management holds 6,884K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 3,895K shares, representing an increase of 43.41%. The firm increased its portfolio allocation in COLB by 17.39% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 5,566K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 5,482K shares, representing an increase of 1.50%. The firm decreased its portfolio allocation in COLB by 3.68% over the last quarter.
Franklin Resources holds 5,538K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 4,705K shares, representing an increase of 15.04%. The firm decreased its portfolio allocation in COLB by 82.08% over the last quarter.
Columbia Banking System Background Information
(This description is provided by the company.)
Headquartered in Tacoma, Washington, Columbia Banking System, Inc. is the holding company of Columbia Bank, a Washington state-charteredfull-service commercial bank with locations throughout Washington, Oregon and Idaho. The bank has been named one of Puget Sound Business Journal's "Washington's Best Workplaces," more than 10 times and was recently honored as #1 in Customer Satisfaction with Retail Banking in the Northwest region by J.D. Power in the 2020 U.S. Retail Banking Satisfaction Study. Columbia was named the #1 bank in the Northwest on the Forbes 2020 list of "America's Best Banks" marking nearly 10 consecutive years on the publication's list of top financial institutions. More information about Columbia can be found on its website at www.columbiabank.com. Columbia Bank received the highest score in the Northwest region of the J.D. Power 2020 U.S. Retail Banking Satisfaction Study of customer satisfaction with their own retail bank.
Key filings for this company:
This story originally appeared on Fintel.