TACOMA, Wash. - Columbia Banking System, Inc. (NASDAQ:COLB), the holding company for Umpqua Bank, has declared a quarterly cash dividend of $0.36 per common share. The dividend is payable on June 10, 2024, to shareholders of record as of May 24, 2024.
Columbia, with headquarters in Tacoma, Washington, operates Umpqua Bank, which is recognized as a leading regional bank in the western United States. Umpqua Bank is the largest bank based in the Northwest and ranks among the largest in the West, with branches spread across Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington.
As a financial institution, Umpqua Bank manages over $50 billion in assets and provides a comprehensive range of services. These services include retail and commercial banking, Small Business Administration lending, as well as institutional, corporate banking, and equipment leasing. Additionally, Columbia Wealth Advisors and Columbia Trust Company, divisions of Umpqua Bank, offer investment, wealth management, healthcare, and private banking services.
The information in this article is based on a press release.
InvestingPro Insights
Columbia Banking System, Inc. (NASDAQ:COLB) has recently made headlines with its announcement of a quarterly cash dividend, signaling a positive outlook for the company's financial health and its commitment to shareholder returns. To provide additional context for investors, here are some insights based on data from InvestingPro and selected InvestingPro Tips.
The company is currently trading at a low P/E ratio of 8.68, which is adjusted to 8.0 for the last twelve months as of Q1 2024, suggesting that it may be undervalued relative to its near-term earnings growth. This aligns with the InvestingPro Tip that highlights the company's attractive valuation in the current market.
InvestingPro Data also shows a robust revenue growth of 58.99% for the last twelve months as of Q1 2024, with a quarterly growth of 40.97% in Q1 2024. This financial performance is a testament to Columbia's strong market presence and operational efficiency.
For income-focused investors, Columbia Banking System stands out with its significant dividend yield of 7.09% and a history of maintaining dividend payments for 28 consecutive years, as noted in another InvestingPro Tip. This track record of consistent dividend payments underlines the company's stability and reliability as an investment.
Investors looking for further insights and tips can find additional value by exploring the full list of 8 InvestingPro Tips for Columbia Banking System, Inc., available at Investing.com/pro/COLB. Moreover, those interested in a deeper dive into the company's analytics can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of investment knowledge and resources.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.