47,704 Columbia Banking System, Inc. $COLB Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Columbia Banking System stake by 185.6% in the third quarter, purchasing 47,704 additional shares and bringing its holdings to 73,408 shares valued at approximately $2.11 million.
• Institutional investors own 92.53% of COLB, while the stock recently traded at $29.20. Columbia reported quarterly EPS of $0.76, exceeding estimates, and pays an annualized dividend of $1.48, yielding about 5.1%.
• Analyst sentiment remains mixed, with five Buy ratings and nine Holds, producing an overall “Hold” rating and an average price target of $33.23.

TD Waterhouse Canada Inc. boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 185.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,408 shares of the financial services provider's stock after buying an additional 47,704 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Columbia Banking System were worth $2,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. grew its stake in Columbia Banking System by 6.8% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 332,845 shares of the financial services provider's stock worth $9,519,000 after acquiring an additional 21,164 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in shares of Columbia Banking System during the third quarter worth approximately $315,000. Capital Advisors Wealth Management LLC increased its position in shares of Columbia Banking System by 2.4% during the third 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 period. GAMMA Investing LLC raised its stake in shares of Columbia Banking System by 5.4% during the third quarter. GAMMA Investing LLC now owns 10,749 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 552 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Columbia Banking System by 99.4% during the third quarter. Farther Finance Advisors LLC now owns 31,076 shares of the financial services provider's stock valued at $889,000 after acquiring an additional 15,493 shares in the last quarter. Institutional investors own 92.53% of the company's stock.

Columbia Banking System Stock Up 0.7%

Shares of Columbia Banking System stock opened at $29.20 on Thursday. The company has a market cap of $8.26 billion, a P/E ratio of 11.63, a PEG ratio of 0.84 and a beta of 0.66. The firm's 50 day moving average price is $29.77 and its 200-day moving average price is $30.22. Columbia Banking System, Inc. has a 52-week low of $24.75 and a 52-week high of $33.67.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. The company had revenue of $677.00 million during the quarter, compared to analysts' expectations of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the prior year, the company posted $0.76 earnings per share. As a group, equities research analysts forecast that Columbia Banking System, Inc. will post 3.02 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

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

Wall Street Analyst Weigh In

COLB has been the subject of a number of research reports. DA Davidson upgraded Columbia Banking System from a "neutral" rating to a "buy" rating and boosted their price target for the company from $33.00 to $36.00 in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Columbia Banking System in a report on Tuesday, October 13th. They set a "hold" rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Columbia Banking System from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 1st. 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 research report on Tuesday, September 22nd. Finally, Keefe, Bruyette & Woods upped their target price on Columbia Banking System from $34.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Columbia Banking System presently has an average rating of "Hold" and an average target price of $33.23.

Columbia Banking System Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.