Epoch Investment Partners Inc. Boosts Position in Columbia Banking System, Inc. $COLB

Epoch Investment Partners Inc. raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 9.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,573,229 shares of the financial services provider’s stock after buying an additional 228,720 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Columbia Banking System were worth $71,922,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after buying an additional 794 shares in the last quarter. Horizon Investments LLC grew its holdings in Columbia Banking System by 168.8% during the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after buying an additional 773 shares in the last quarter. Rossby Financial LCC purchased a new position in Columbia Banking System during the 4th quarter valued at about $36,000. Hilton Head Capital Partners LLC purchased a new position in Columbia Banking System during the 4th quarter valued at about $43,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Columbia Banking System during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

COLB has been the subject of a number of recent analyst reports. Citigroup lifted their target price on Columbia Banking System from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Piper Sandler lifted their target price on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, April 27th. UBS Group began coverage on Columbia Banking System in a research report on Tuesday, April 7th. They set a “neutral” rating and a $30.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Columbia Banking System from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company lifted their price target on Columbia Banking System from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. 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. According to MarketBeat, Columbia Banking System presently has an average rating of “Hold” and a consensus target price of $32.13.

Insider Activity

In other news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares in the company, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Columbia Banking System Trading Up 1.6%

Shares of COLB opened at $31.31 on Friday. The company has a market cap of $9.06 billion, a PE ratio of 12.47 and a beta of 0.63. The stock has a 50-day moving average price of $29.36 and a 200-day moving average price of $28.99. Columbia Banking System, Inc. has a 12-month low of $21.91 and a 12-month high of $32.70.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $677.34 million. Columbia Banking System had a return on equity of 11.41% and a net margin of 19.28%.The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, analysts predict that Columbia Banking System, Inc. will post 3.08 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th. Columbia Banking System’s dividend payout ratio (DPR) is 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.