TD Private Client Wealth LLC Raises Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

TD Private Client Wealth LLC raised its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,430 shares of the financial services provider’s stock after buying an additional 2,235 shares during the period. TD Private Client Wealth LLC’s holdings in Columbia Banking System were worth $228,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in Columbia Banking System by 39.9% in the 4th quarter. Teacher Retirement System of Texas now owns 50,353 shares of the financial services provider’s stock worth $1,360,000 after buying an additional 14,349 shares during the period. Xponance Inc. raised its holdings in shares of Columbia Banking System by 5.6% during the fourth quarter. Xponance Inc. now owns 23,796 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 1,259 shares in the last quarter. Boston Partners lifted its stake in Columbia Banking System by 38.0% in the fourth quarter. Boston Partners now owns 1,271,289 shares of the financial services provider’s stock worth $34,662,000 after acquiring an additional 350,229 shares during the period. William Blair Investment Management LLC boosted its holdings in Columbia Banking System by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,774,443 shares of the financial services provider’s stock valued at $47,928,000 after acquiring an additional 42,527 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Columbia Banking System by 0.8% in the fourth quarter. Swiss National Bank now owns 412,021 shares of the financial services provider’s stock valued at $11,129,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Stock Performance

Shares of COLB stock opened at $25.57 on Wednesday. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 10.07 and a beta of 0.62. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $32.85. The company’s 50-day moving average is $26.74 and its 200 day moving average is $27.49.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System’s payout ratio is currently 56.69%.

Insider Activity

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares of the company’s stock, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on COLB shares. Keefe, Bruyette & Woods dropped their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $33.00 to $35.00 in a research report on Monday, January 6th. UBS Group began coverage on Columbia Banking System in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Stephens decreased their price objective on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of “Hold” and an average target price of $31.25.

About Columbia Banking System

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.