Columbia Banking System, Inc. $COLB Stock Position Raised by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its holdings in Columbia Banking System, Inc. (NASDAQ:COLB) by 185.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 73,408 shares of the financial services provider’s stock after buying an additional 47,704 shares during the period. TD Waterhouse Canada Inc.’s holdings in Columbia Banking System were worth $2,110,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COLB. ZWJ Investment Counsel Inc. grew its holdings in shares of Columbia Banking System by 6.8% during the third quarter. ZWJ Investment Counsel Inc. now owns 332,845 shares of the financial services provider’s stock valued at $9,519,000 after buying an additional 21,164 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new position in Columbia Banking System in the 3rd quarter worth $315,000. Capital Advisors Wealth Management LLC raised its stake in Columbia Banking System by 2.4% in the 3rd quarter. Capital Advisors Wealth Management LLC now owns 156,878 shares of the financial services provider’s stock worth $4,487,000 after acquiring an additional 3,603 shares during the last quarter. GAMMA Investing LLC raised its stake in Columbia Banking System by 5.4% in the 3rd quarter. GAMMA Investing LLC now owns 10,749 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 552 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Columbia Banking System by 99.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 31,076 shares of the financial services provider’s stock worth $889,000 after acquiring an additional 15,493 shares during the period. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COLB. Barclays boosted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Keefe, Bruyette & Woods raised their price objective on Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Research upgraded Columbia Banking System from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Citigroup decreased their target price on Columbia Banking System from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, September 22nd. Finally, Fundamental Research set a $35.00 target price on Columbia Banking System in a research report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.23.

Columbia Banking System Trading Up 0.7%

Shares of NASDAQ:COLB opened at $29.20 on Thursday. Columbia Banking System, Inc. has a 12-month low of $24.75 and a 12-month high of $33.67. The company has a market capitalization of $8.26 billion, a PE ratio of 11.63, a PEG ratio of 0.84 and a beta of 0.66. The business has a 50 day moving average of $29.77 and a two-hundred day moving average of $30.22.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities research analysts predict that Columbia Banking System, Inc. will post 3.02 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 28th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, August 28th. Columbia Banking System’s payout ratio is 58.96%.

About Columbia Banking System

Columbia Banking System, Inc is a bank holding company headquartered in Tacoma, Washington. It operates through Umpqua Bank, a full-service financial institution serving consumers, businesses, professionals and institutions.

Umpqua Bank provides deposit accounts, residential and commercial lending, business banking, treasury and cash-management services, mortgage banking, personal banking and wealth-management solutions. Its offerings include checking and savings accounts, commercial real estate and business loans, consumer credit, online and mobile banking, and investment and advisory services.

Columbia Banking System traces its roots to the formation of Columbia State Bank in Washington in 1993.