TD Private Client Wealth LLC Purchases 2,235 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

TD Private Client Wealth LLC increased its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 36.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,430 shares of the financial services provider’s stock after acquiring an additional 2,235 shares during the quarter. TD Private Client Wealth LLC’s holdings in Columbia Banking System were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Columbia Banking System during the 4th quarter worth $32,000. Smartleaf Asset Management LLC raised its holdings in Columbia Banking System by 62.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 780 shares during the period. Principal Securities Inc. lifted its position in Columbia Banking System by 171.3% during the fourth quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,343 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Columbia Banking System by 36.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 801 shares during the period. Finally, Larson Financial Group LLC increased its position in Columbia Banking System by 22,244.4% in the fourth quarter. Larson Financial Group LLC now owns 6,033 shares of the financial services provider’s stock worth $163,000 after buying an additional 6,006 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Insiders Place Their Bets

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

Columbia Banking System Trading Down 0.4 %

Shares of COLB stock opened at $25.57 on Wednesday. The stock’s 50-day moving average price is $26.74 and its 200-day moving average price is $27.49. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $32.85. The stock 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 (NASDAQ:COLB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Columbia Banking System from $29.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods lowered their price target on shares of Columbia Banking System from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, January 24th. UBS Group initiated coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. Citigroup lowered their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. cut their price target on Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.