Epoch Investment Partners Inc. Lowers Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Epoch Investment Partners Inc. cut its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,550,067 shares of the financial services provider’s stock after selling 10,778 shares during the period. Epoch Investment Partners Inc. owned about 1.22% of Columbia Banking System worth $50,721,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in Columbia Banking System during the second quarter valued at approximately $33,000. Abich Financial Wealth Management LLC boosted its stake in shares of Columbia Banking System by 85.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Columbia Banking System by 144.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,387 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Columbia Banking System by 111.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,380 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 4,115 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Columbia Banking System from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on Columbia Banking System from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and set a $27.00 price objective on shares of Columbia Banking System in a research note on Wednesday, June 5th. StockNews.com downgraded shares of Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, Wedbush increased their price target on shares of Columbia Banking System from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.96.

Columbia Banking System Price Performance

Shares of NASDAQ COLB opened at $25.80 on Monday. 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 capitalization of $5.40 billion, a P/E ratio of 11.07 and a beta of 0.64. The company’s 50-day moving average is $24.25 and its 200 day moving average is $20.91.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 EPS. Research analysts anticipate that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were issued a $0.36 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 5.58%. Columbia Banking System’s dividend payout ratio (DPR) is 61.80%.

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.