Columbia Banking System, Inc. $COLB Stake Boosted by TD Asset Management Inc

TD Asset Management Inc raised its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 12.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 461,928 shares of the financial services provider’s stock after buying an additional 49,454 shares during the quarter. TD Asset Management Inc owned approximately 0.15% of Columbia Banking System worth $12,911,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Columbia Banking System by 39.4% in the third quarter. Principal Financial Group Inc. now owns 664,110 shares of the financial services provider’s stock valued at $17,094,000 after buying an additional 187,551 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Columbia Banking System by 14.1% in the third quarter. JPMorgan Chase & Co. now owns 7,536,008 shares of the financial services provider’s stock valued at $193,977,000 after buying an additional 929,862 shares during the last quarter. Savant Capital LLC lifted its stake in Columbia Banking System by 78.9% in the third quarter. Savant Capital LLC now owns 69,234 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 30,537 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Columbia Banking System by 66.5% in the third quarter. Linden Thomas Advisory Services LLC now owns 121,972 shares of the financial services provider’s stock valued at $3,140,000 after buying an additional 48,702 shares during the last quarter. Finally, HoldCo Asset Management LP lifted its stake in Columbia Banking System by 27.6% in the third quarter. HoldCo Asset Management LP now owns 5,722,786 shares of the financial services provider’s stock valued at $147,305,000 after buying an additional 1,239,489 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on COLB shares. UBS Group started coverage on Columbia Banking System in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $30.00 target price on the stock. Weiss Ratings upgraded shares of Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Wells Fargo & Company lifted their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, March 30th. Wall Street Zen cut shares of Columbia Banking System from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.13.

Columbia Banking System Stock Up 0.1%

NASDAQ:COLB opened at $29.68 on Tuesday. The business’s 50-day moving average price is $29.08 and its 200 day moving average price is $28.89. The firm has a market cap of $8.59 billion, a P/E ratio of 11.82 and a beta of 0.63. Columbia Banking System, Inc. has a 52-week low of $21.91 and a 52-week high of $32.70.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $675.00 million for the quarter, compared to analyst estimates of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.Columbia Banking System’s revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. Sell-side analysts expect that Columbia Banking System, Inc. will post 3.08 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, May 29th. Columbia Banking System’s payout ratio is presently 58.96%.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.