Mutual of America Capital Management LLC Sells 6,693 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Mutual of America Capital Management LLC lessened its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 128,846 shares of the financial services provider’s stock after selling 6,693 shares during the period. Mutual of America Capital Management LLC’s holdings in Columbia Banking System were worth $3,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Columbia Banking System during the fourth quarter worth $32,000. EverSource Wealth Advisors LLC grew its stake in shares of Columbia Banking System by 1,506.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,326 shares during the last quarter. First Pacific Financial bought a new stake in shares of Columbia Banking System during the fourth quarter worth $40,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Columbia Banking System by 152.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,589 shares of the financial services provider’s stock worth $34,000 after buying an additional 959 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Columbia Banking System by 178.9% during the first quarter. Covestor Ltd now owns 2,421 shares of the financial services provider’s stock worth $78,000 after buying an additional 1,553 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

Columbia Banking System Trading Up 0.8 %

Shares of NASDAQ COLB opened at $17.49 on Thursday. The firm’s 50-day moving average price is $18.52 and its 200-day moving average price is $21.19. The firm has a market capitalization of $3.66 billion, a P/E ratio of 10.60 and a beta of 0.71. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.11.

Columbia Banking System (NASDAQ:COLB) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.35). The business had revenue of $519.16 million for the quarter, compared to the consensus estimate of $525.94 million. Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The company’s revenue was up 52.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.25 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 8.23%. The ex-dividend date was Thursday, February 22nd. Columbia Banking System’s payout ratio is presently 87.27%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Columbia Banking System from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 9th. Stephens lowered shares of Columbia Banking System from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $31.00 to $24.00 in a report on Thursday, January 25th. StockNews.com lowered shares of Columbia Banking System from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Piper Sandler cut their price target on shares of Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Finally, UBS Group cut their price target on shares of Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating on the stock in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.42.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, Director Elizabeth Whitehead Seaton bought 2,685 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $18.48 per share, with a total value of $49,618.80. Following the completion of the transaction, the director now directly owns 25,001 shares in the company, valued at approximately $462,018.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Ron L. Farnsworth acquired 2,500 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $20.71 per share, for a total transaction of $51,775.00. Following the purchase, the chief financial officer now owns 160,073 shares in the company, valued at approximately $3,315,111.83. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elizabeth Whitehead Seaton acquired 2,685 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $18.48 per share, with a total value of $49,618.80. Following the purchase, the director now owns 25,001 shares in the company, valued at approximately $462,018.48. The disclosure for this purchase can be found here. Insiders acquired a total of 35,133 shares of company stock valued at $719,737 over the last three months. Corporate insiders own 0.59% of the company’s stock.

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.