Epoch Investment Partners Inc. Buys 228,720 Shares of Columbia Banking System, Inc. $COLB

Epoch Investment Partners Inc. lifted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,573,229 shares of the financial services provider’s stock after purchasing an additional 228,720 shares during the period. Epoch Investment Partners Inc. owned about 0.86% of Columbia Banking System worth $71,922,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. TD Waterhouse Canada Inc. raised its stake in shares of Columbia Banking System by 6.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 348 shares during the period. Wedbush Securities Inc. raised its stake in shares of Columbia Banking System by 4.5% during the 3rd quarter. Wedbush Securities Inc. now owns 9,915 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 423 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Columbia Banking System by 1.2% during the 4th quarter. Quadrant Capital Group LLC now owns 38,350 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 444 shares during the period. Linden Thomas Advisory Services LLC raised its stake in shares of Columbia Banking System by 0.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 122,428 shares of the financial services provider’s stock worth $3,422,000 after purchasing an additional 456 shares during the period. Finally, Sittner & Nelson LLC raised its stake in shares of Columbia Banking System by 1.2% during the 3rd quarter. Sittner & Nelson LLC now owns 37,519 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 460 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Performance

Shares of COLB opened at $31.31 on Friday. The business has a 50-day moving average of $29.36 and a 200 day moving average of $28.99. Columbia Banking System, Inc. has a fifty-two week low of $21.91 and a fifty-two week high of $32.70. The firm has a market cap of $9.06 billion, a P/E ratio of 12.47 and a beta of 0.63.

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

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 4.7%. Columbia Banking System’s dividend payout ratio (DPR) is 58.96%.

Analyst Ratings Changes

A number of research firms have recently commented on COLB. Weiss Ratings upgraded Columbia Banking System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Barclays lowered their target price on Columbia Banking System from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lowered their target price on 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. Piper Sandler lifted their target price on Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, UBS Group began coverage on Columbia Banking System in a research note on Tuesday, April 7th. They set a “neutral” rating and a $30.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.13.

Insiders Place Their Bets

In related 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 value of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares of the company’s stock, 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 hyperlink. Company insiders own 0.57% of the company’s stock.

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.