Epoch Investment Partners Inc. Decreases Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Epoch Investment Partners Inc. cut its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 7.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,560,845 shares of the financial services provider’s stock after selling 216,863 shares during the quarter. Epoch Investment Partners Inc. owned 1.22% of Columbia Banking System worth $49,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Columbia Banking System by 113.4% during the first quarter. Fifth Third Bancorp now owns 1,970 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,047 shares during the period. Headlands Technologies LLC bought a new stake in Columbia Banking System in the 4th quarter worth $42,000. GAMMA Investing LLC purchased a new position in shares of Columbia Banking System in the fourth quarter valued at about $48,000. Cerity Partners LLC bought a new position in shares of Columbia Banking System during the fourth quarter valued at about $59,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Columbia Banking System by 17.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,932 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 595 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial reduced their price target on Columbia Banking System from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Royal Bank of Canada lifted their price target on Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday. Stephens lifted their target price on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Wedbush boosted their price objective on shares of Columbia Banking System from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.81.

Columbia Banking System Stock Performance

Shares of COLB stock traded up $2.80 on Friday, reaching $26.99. The stock had a trading volume of 5,077,370 shares, compared to its average volume of 2,308,208. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The stock has a market cap of $5.65 billion, a P/E ratio of 11.58 and a beta of 0.66. The company has a 50 day simple moving average of $20.14 and a 200 day simple moving average of $19.84.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Columbia Banking System had a return on equity of 10.95% and a net margin of 15.94%. The business had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. During the same period in the previous year, the company posted $0.81 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.45 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 5.34%. Columbia Banking System’s dividend payout ratio is currently 61.80%.

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.