TD Asset Management Inc Sells 12,139 Shares of Columbia Banking System, Inc. $COLB

TD Asset Management Inc lowered its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 3.0% in the second quarter, Holdings Channel.com reports. The fund owned 395,560 shares of the financial services provider’s stock after selling 12,139 shares during the period. TD Asset Management Inc’s holdings in Columbia Banking System were worth $9,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of Columbia Banking System by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 12,742,629 shares of the financial services provider’s stock worth $317,802,000 after acquiring an additional 116,795 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Banking System by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,667,271 shares of the financial services provider’s stock worth $191,222,000 after acquiring an additional 351,375 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Columbia Banking System by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,527,612 shares of the financial services provider’s stock worth $162,791,000 after acquiring an additional 1,012,796 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Columbia Banking System by 221.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,947,950 shares of the financial services provider’s stock worth $148,342,000 after acquiring an additional 4,096,733 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in shares of Columbia Banking System by 13.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,703,761 shares of the financial services provider’s stock worth $67,432,000 after acquiring an additional 316,988 shares during the period. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB opened at $24.32 on Monday. The stock has a fifty day moving average price of $26.08 and a two-hundred day moving average price of $24.39. Columbia Banking System, Inc. has a 52-week low of $19.61 and a 52-week high of $32.85. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 9.65 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a return on equity of 11.31% and a net margin of 17.98%.The firm had revenue of $348.47 million during the quarter. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.36 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 5.9%. Columbia Banking System’s payout ratio is presently 57.14%.

Analysts Set New Price Targets

A number of analysts have commented on COLB shares. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, July 1st. Cowen initiated coverage on Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Royal Bank Of Canada raised their target price on Columbia Banking System from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Wells Fargo & Company raised their target price on Columbia Banking System from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Finally, Citigroup restated a “neutral” rating and set a $26.00 target price (up previously from $22.00) on shares of Columbia Banking System in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus target price of $29.33.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.