Columbia Banking System, Inc. (NASDAQ:COLB) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet Rating) by 5.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,201 shares of the financial services provider’s stock after purchasing an additional 580 shares during the period. Mutual of America Capital Management LLC’s holdings in Columbia Banking System were worth $361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Earnest Partners LLC acquired a new position in shares of Columbia Banking System during the fourth quarter worth about $27,000. Covestor Ltd acquired a new position in shares of Columbia Banking System during the fourth quarter worth about $28,000. Pinebridge Investments L.P. acquired a new position in shares of Columbia Banking System during the fourth quarter worth about $69,000. FourThought Financial LLC grew its position in shares of Columbia Banking System by 29.6% during the first quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider’s stock worth $118,000 after buying an additional 839 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Columbia Banking System during the fourth quarter worth about $139,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Columbia Banking System

In related news, Director Craig D. Eerkes purchased 1,694 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was acquired at an average price of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the purchase, the director now directly owns 20,227 shares of the company’s stock, valued at $576,874.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders bought 2,713 shares of company stock worth $74,593. 0.62% of the stock is owned by insiders.

Columbia Banking System Trading Up 0.9 %

Shares of NASDAQ COLB opened at $30.17 on Monday. Columbia Banking System, Inc. has a twelve month low of $26.97 and a twelve month high of $40.78. The stock has a 50 day moving average of $29.23 and a two-hundred day moving average of $31.73. The stock has a market cap of $2.37 billion, a P/E ratio of 10.85 and a beta of 0.67.

Columbia Banking System (NASDAQ:COLBGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, research analysts predict that Columbia Banking System, Inc. will post 2.72 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, August 2nd. Columbia Banking System’s dividend payout ratio is currently 43.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Raymond James lowered their price objective on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. Piper Sandler lowered their price target on Columbia Banking System from $35.00 to $31.00 in a report on Monday, May 2nd. Finally, Royal Bank of Canada upped their price target on Columbia Banking System from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Profile

(Get Rating)

Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.

Further Reading

Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLBGet Rating).

Institutional Ownership by Quarter for Columbia Banking System (NASDAQ:COLB)

Receive News & Ratings for Columbia Banking System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Banking System and related companies with MarketBeat.com's FREE daily email newsletter.